The Board of Directors of UltraTech Cement has approved the acquisition of 23% equity stake in India Cements. UltraTech will buy 7.06 crore stocks of India Cements at Rs 267 per share. According to this, the total value of this deal will be around Rs 1,885 crore. UltraTech Cement gave this information in the exchange filing today i.e. on 27 June. Along with this, today the stock of India Cements is seeing a rise of 11.43%, it is trading at the level of 292.63. In the last 5 days, the stock of India Cements has seen a rise of 26.52% and in 1 month, it has seen a rise of 37.06%. UltraTech Cement’s stock also saw a rise of 4.44% UltraTech Cement’s stock is also seeing a rise of 4.44% today. In the last 5 days, the company’s stock has seen a rise of 6.40% and in 1 month, it has seen a rise of 13.78%. At the same time, UltraTech Cement has given a return of 41.74% in the last 1 year. Radhakishan Damani has 20.78% stake in India Cements The promoter group holds 28.42% stake in India Cements, while well-known investor Radhakishan Damani and his associates hold 20.78% stake in the cement company. UltraTech said that the indicative time period for completion of the acquisition is one month. The company said that the acquisition is being done in cash.
