UltraTech Cement plans to buy a 23% stake in India Cements for up to INR 18.85 billion ($226m).

India Cements' stock surged as UltraTech Cement, India's largest cement producer, plans to buy a 23% stake in India Cements for up to 18.85 billion rupees ($226 million). UltraTech will purchase 70.6 million shares of India Cements at Rs 267 per share, a deal that will likely be completed within a month. This acquisition aims to strengthen UltraTech's strategic position within the cement industry.

June 27, 2024
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