In lower than a month after buying a 22.8 per cent non-controlling stake in India Cements, Ultratech has introduced a share buy settlement with India Cements promoter and associated group to amass 32.7 per cent stake and make it right into a controlling stake with 55.49 per cent shareholding. Whereas the sooner transaction was accomplished … Read more
Consolidation within the cement business continues, with Adani-owned Ambuja Cements saying a 100 per cent acquisition of Hyderabad-based Penna Cements Industries Restricted (PCIL) for an Enterprise worth of ₹10,422 crore. With an operational and to be commercialised capability of 14 million tonnes each year (mtpa), the PCIL deal is valued at $89 per tonne, which … Read more
Days after the Modi 3.0 pushed for reasonably priced housing – each rural and concrete – underneath the Prime Minister Awas Yojana scheme, cement-makers have introduced a ₹8-10 per bag worth hike anticipating a pick-up in demand, shrugging off the heat-wave and Common Election blues. By the way, whereas worth hikes have been introduced company-wise … Read more