![This smallcap cement stock has risen 63% in one month; do you own it?](https://images.assettype.com/fortuneindia%2F2022-04%2Fb04f469c-4134-431b-9f4b-80698d8d3183%2Fcement.jpg?w=300&q=95)
This smallcap cement stock has risen 63% in one month; do you own it?
UltraTech Cement is reportedly in talks to buy a stake in this mid-size cement manufacturer.
UltraTech Cement is reportedly in talks to buy a stake in this mid-size cement manufacturer.
The agency expects consolidation in India’s cement industry to continue in the medium term.
Radhakishan Damani, the founder of DMart chain of hypermarkets, sold around 24% stake in India Cements to Ultratech Cement via block deals yesterday.
UltraTech to buy up to 7.06 crore equity shares of India Cements at ₹267 per share, amounting to ₹1,885 crore.
This acquisition will be executed through UltraTech's wholly-owned UAE subsidiary, UltraTech Cement Middle East Investments Ltd (UCMEIL)
For the full year, the consolidated net profit after tax stood at ₹7,005 crore, up 38%, as against ₹5,064 crore in FY23.
UltraTech Cement says it will invest ₹32,400 crore towards ongoing capex over the next three years.
The Aditya Birla Group company proposes to increase its cement capacity by another 21.9 MTPA with a mix of brown field and green field projects.
Ultratech's revenue from operations stood at ₹16,012.13 crore, up 15% YoY as against ₹13,892.69 crore in the corresponding period of the previous year.
K.C. Jhanwar focused on innovation, digitisation, and long-term cash flows to help India’s largest cement manufacturer tide over market downturns.