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The India Cements Limited (INDIACEM.NS)

359.65

-0.65

(-0.18%)

At close: October 23 at 3:30 PM GMT+5:30

Aditya Birla’s UltraTech to acquire 32.72% stake in India Cements

The deal's completion is subject to clearance from the Competition Commission of India.

World Construction Network 2 months ago

INDIACEM.NS
-0.18%
ULTRACEMCO.NS
UltraTech board approves deal to snare control of India Cement

NEW DELHI (Reuters) -UltraTech Cement, India's number one cement maker, said its board on Sunday approved a $472 million deal to gain control of India Cements, which will bolster its position in the country's southern states. The deal comes as the country's top cement makers vie to dominate a market that is expected to roughly double to $49 billion by 2029 from 2022 levels with an expected infrastructure spending boom under the government of Prime Minister Narendra Modi. UltraTech, part of India's Aditya Birla group, will buy a 32.72% stake in India Cements from its promoters and their associates, adding to the 23% stake it bought in June.

Reuters 2 months ago

INDIACEM.NS
-0.18%
Birla's UltraTech buys stake in rival to defend Indian cement lead against Adani

BENGALURU (Reuters) -UltraTech Cement said it is buying a stake worth up to $228 million in rival India Cements, intensifying a battle with the Adani group which is challenging its position as the South Asian nation's top cement maker. India's cement market, expected to roughly double to $49.24 billion by 2029 from 2022 levels, was long dominated by billionaire Kumar Mangalam Birla's company until Gautam Adani entered the sector in 2022 and quickly rose through the ranks to become the second biggest player. The deal for a 23% stake, which UltraTech said is a non-controlling financial investment, comes as cement makers stand to benefit from Narendra Modi's return to power and an expected infrastructure spending spurt in Asia's No. 3 economy.

Reuters 3 months ago

INDIACEM.NS
-0.18%
ULTRACEMCO.NS

Performance Overview

Return	INDIACEM.NS	S&P BSE SENSEX
YTD	+38.91%	+10.86%
1-Year	+59.42%	+22.45%
3-Year	+82.96%	+31.67%

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The India Cements Limited (INDIACEM.NS)

Aditya Birla’s UltraTech to acquire 32.72% stake in India Cements

UltraTech board approves deal to snare control of India Cement

Birla's UltraTech buys stake in rival to defend Indian cement lead against Adani

Performance Overview