As part of its capacity expansion programs, the company saw multiple opportunities to improve efficiency and rationalise operations at different locations.
Under the demerger agreement, Kesoram’s preference shareholders will be issued 54,86,608 fully paid-up 7.3% NCRP shares.
Here are some of the stocks that may see significant price movement today: KPI Green, Tata Power, UltraTech Cement, etc.
On the BSE, UltraTech Cement's shares rose 1.4% to reach their day's high of Rs 11,585.40.
Here are some of the stocks that may see significant price movement today: Vedanta, NHPC, Reliance Industries, etc.
UltraTech Cement's board approved acquiring 32.72% equity stake in India Cements at ₹390 a share, said a filing at the BSE.
For the July-September 2024 quarter, UltraTech Cement reported a net profit of ₹825 crore, a drop of 36% from ₹1,280 crore it had registered for the same period last year.
Additionally, the result fell short of street projections of Rs 956 crore. Operating revenue fell to Rs 15,635 crore, a 2% YoY decrease.
To accommodate growing demand, the cement industry plans to add 35-40 million tonnes of capacity in the next fiscal year, with 60-65% concentrated in the eastern and southern regions.
The participating banks in this transaction include SMBC, State Bank of India (SBI), BNP Paribas, DBS Bank, MUFG Bank, and Mizuho Bank.
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