India Cements shares surge 3% as UltraTech buys majority stake
The share price of India Cements has more than doubled in less than two months to ₹385.50, from its 52-week low of ₹172.55 touched on June 4, 2024.
The share price of India Cements has more than doubled in less than two months to ₹385.50, from its 52-week low of ₹172.55 touched on June 4, 2024.
UltraTech Cement is reportedly in talks to buy a stake in this mid-size cement manufacturer.
This is the second deal in two days after the Aditya Birla Group company acquired 0.54 mtpa cement grinding assets of Burnpur Cement for ₹169.79 crore on November 29.
The microcap stock hit 5% upper circuit and touched a fresh record high of ₹32.80 on Wednesday from ₹6 on April 10, 2023.
Ambuja Cements shares rose 29.5% so far this month, from ₹299.2 to over a three-month high of ₹387.45 in intraday trade on Tuesday.