Birla’s UltraTech buys 23% in India Cements in mkt share race with Adani cos
UltraTech Cement, under Kumar Mangalam Birla's leadership, has acquired a 23% stake in India Cements from Radhakishan Damani for Rs 1,885 crore. This move bolsters UltraTech's position in the competitive cement market, positioning Birla as the second-largest shareholder behind India Cements' founders. The investment, described as a non-controlling financial stake, signals potential future strategic manoeuvres. UltraTech's expansion aims to secure its foothold amidst rising industry consolidation and aggressive expansion plans by competitors like Ambuja Cements and ACC. Industry analysts foresee continued mergers and acquisitions in the sector, anticipating significant shifts in cement capacity ownership over the coming years.
UltraTech Cement, under Kumar Mangalam Birla's leadership, has acquired a 23% stake in India Cements from Radhakishan Damani for Rs 1,885 crore. This move bolsters UltraTech's position in the competitive cement market, positioning Birla as the second-largest shareholder behind India Cements' founders. The investment, described as a non-controlling financial stake, signals potential future strategic manoeuvres. UltraTech's expansion aims to secure its foothold amidst rising industry consolidation and aggressive expansion plans by competitors like Ambuja Cements and ACC. Industry analysts foresee continued mergers and acquisitions in the sector, anticipating significant shifts in cement capacity ownership over the coming years. What's Your Reaction?
