Construction Industry News
India Cements shares climbed 11 per cent to hit a high of Rs 376.30 on BSE. UltraTech Cement, on the other hand, rose 1.14 per cent to Rs 11,555 level at open.
Shares of India Cements Ltd jumped 11 per cent while those of UltraTech Cement advanced 1 per cent in Mondays trade after the latter received Competition Commission of India (CCI) nod for acquiring a majority stake in the former. As per the deal, UltraTech Cement would acquire 10,13,91,231 equity shares of Rs 10 each, representing 32.72 per cent of the equity share capital of India Cements held by the promoters, members of the promoter group and the other shareholder.
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