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 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.
Legacy conglomerates grab emerging opportunities to ride the next decade of growth.
UBS believes inorganic proposition is not value accretive given the combination of overcapacity and weak demand
The cement maker's board recommended a dividend of ₹38 per equity share.
Global presence across multiple businesses ensures that he is readying the business for perpetuity.
Shares of UltraTech Cement dropped 5% intraday after it announced a capital expenditure of ₹12,886 crore to increase its capacity.
Net sales of the company rose to ₹15,557 crore during the quarter.
The deal will help UltraTech Cement attain a stronger presence in India’s eastern, central and western markets.
From being a drag on Larsen & Toubro, how Ultratech became Kumar Mangalam Birla’s crown jewel.
