UltraTech Cement to acquire majority stake in India Cements

UltraTech Cement has agreed to acquire a 32.72% stake in India Cements for Rs 3,954 crore. This move, raising UltraTech's total stake to over 55%, aims to boost its market presence in southern India. The acquisition supports UltraTech’s broader strategy of dominating the Indian cement market. Completion is pending regulatory approvals and is expected within six months. https://ift.tt/SRVQ482