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Ambuja Cements share price stays in green even as it faces double blow with customs penalty and CMO arrest

Ambuja Cements, a major player in India's cement industry, is facing a perfect storm of challenges. The company has been hit with a significant customs penalty and its Chief Manufacturing Officer has been arrested on bribery charges.

The Economic Times

UltraTech Cement's open offer for ICL to open on September 19

UltraTech Cement announced a Rs 3,142 crore open offer to gain a 26% stake in India Cements Ltd, scheduled from September 19 to October 3. This followed a prior acquisition, boosting their stake to 55.49%. The purchase aimed to enhance UltraTech's footprint in the competitive southern Indian cement market, especially in Tamil Nadu.

Business Standard

UltraTech Cement's open offer for ICL to open on Sept 19, close on Oct 3

UltraTech Cement's Rs 3,142 crore open offer for acquiring 26 per cent stake in India Cements Ltd (ICL) will tentatively open on September 19 and close on October 3. The Aditya Birla group flagship company has proposed to acquire 8.05 crore shares of ICL at Rs 390 apiece, said the draft of the offer submitted to bourses. The offer price is 6.3 per cent higher than the closing price of Rs 366.90 of ICL at BSE. The mandatory open offer was triggered after UltraTech on July 28 announced to acquire 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. If subscribed fully, then based of the Rs 390 price, the open offer will come in at Rs 3,142.35 crore. Before this, UltraTech had acquired a non-controlling stake of around 23 per cent in ICL through two block deals, at around Rs 1,900 crore. The shareholding of UltraTech after the acquisition of 32.72 per cent stake in ICL from promoters and their associates, will be 55.49 per cent. UltraTech in the draft

Business Line

India Cements back to black with ₹57 crore Q1 profit on exceptional income

The rise in net profit is due to the divestment of its grinding unit at Parli during the quarter

Business Standard

India Cements posts consolidated net profit of Rs 58.5 crore in Q1

Capacity utilisation for the company was adversely affected due to the free fall in cement prices, resulting in a suboptimal operating performance for the quarter

Business Line

India Cements: What change in ownership means for shareholders?

Ultratech could chart a new course for the oldest cement operator

Business Line

When the going gets tough

India Cements on positioned interestingly on operational recovery and shareholding pattern

The Economic Times

187 BSE500 stocks offer double digit returns as markets scaled new heights in June

The India Cements was the top gainer in this pack with nearly 44% return, followed by Amara Raja Energy (41%), JK Paper (40.5%), and V Mart Retail (40.5%).

The Economic Times

Birla Group cements lead, Adani plans taking shape

According to industry observers, the competition for leadership in the cement sector is expected to escalate following the Adani group's announcement of ambitious expansion plans. Currently, however, the Kumar Mangalam Birla group appears to have strengthened its position by acquiring a 23% stake in India Cements, thereby increasing its presence in the largest regional market in India, which boasts one of the highest per capita income.

Business Line

UltraTech Cement buys 23% in India Cements for ₹1,885 crore

The non-controlling financial investment was made at ₹267 per share and approved by the company’s board, said UltraTech in a statement on Thursday

The Economic Times

A war of titans builds up in India's cement sector

The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.

The Economic Times

India Cements in play: Will there be a rival for UltraTech?

Why would a company buy a substantial stake in a rival firm without a say in the management of the company?

Business Line

India Cements Share Price Highlights 27 June 2024: India Cements stock surges 11% as UltraTech to buy 23% stake

UltraTech Cement, India Cements Share Price Updates: UltraTech Cement, India’s top cement producer by capacity, said on Thursday it will buy a 23 per cent stake in India Cements for up to ₹1,885 crore (about $226 million). UltraTech said it would buy 70.6 million India Cements shares for up to ₹267 each, a 1.7 per cent premium to the stock’s closing price on Wednesday. India Cements stock closed at ₹292 on the BSE on Thursday, up by 11.05%, and at ₹291.75 on the NSE, up by 11.09%. UltraTech Cement stock closed at ₹11,750 on the BSE on Thursday, up by 5.38%, and at ₹11,749.85, up by 5.45%.

The Economic Times

F&O Ban: India Cements, Indus Towers among 5 stocks under trade ban on Thursday

The Future & Options contracts of any stock enter a ban period when its open interest (OI) exceeds 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL