Ultratech India Cement Deal: The board of India’s largest cement company Ultratech Cement has approved the acquisition of approximately 23% stake in India Cements. After this, the shares of cement companies are flying. India Cement jumped over 11 percent in early trade. JK Lakshmi Cement recorded an increase of around 7 percent and Prism Cement over 5 percent. Ultratech Cement also jumped by more than 5 percent. Sricement is also doing business in green.
According to Moneycontrol reports, UltraTech has traded for 7.06 crore shares at an average price of ₹267 per share. The total cost of buying this stake is ₹1,885 crore. This news has been confirmed by CNBC-TV18. India Cements Ltd saw a strong trade in the pre-market block window. This mega transaction involves 6 crore shares or 19.4% of the total equity. The average price of these shares was ₹265 per share.
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The promoter group holds 28.42 per cent stake in India Cements, while prominent investor Radhakrishna Damani and his associates hold 20.78 per cent stake in the cement firm.
Ultratech has a total capacity of 152.7 metric tons. Earlier this year, it bought Kesoram’s cement business for an enterprise value of ₹7,600 crore. At current market prices, India Cement is trading at 17x Enterprise Value TP EBITDA multiple for FY2025, while for FY2026 it is trading at 13.69x.
Sensex crosses 79000 today, stock market bullish
Earlier on Wednesday, the stock had gained 14 percent. This stock has entered F&O restrictions from today’s session which means no new positions can be created on this stock. At the end of the August series, stocks will also be taken out of the F&O segment.
India Cement Rs. A new 52-week high of 298.8 has been reached
Shares of India Cement Rs. 298.8 intraday high and hit a fresh 52-week high in morning trade with an increase of 11.11 percent at Rs. was trading at 292.
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