Consolidating its number one position in the cement sector, UltraTech Cement Ltd, owned by the Aditya Birla group, has acquired 32.72 per cent stake of N Srinivasan and associates in India Cements for Rs 3,954 crore. With this sell-out, Srinivasan will exit from the company set up in 1946. As the Birlas will shell out Rs 390 per share for the acquisition, it will trigger a mandatory open offer for another 20 per cent stake in the company from the public at Rs 390 per share. The open offer, which…
Tag: Cements
Stock Idea: Big Movers on D-St: What should investors do with Root Mobiles, Timken India and Ambuja Cements?
[ad_1] The Indian market closed in the green for the third consecutive day on Monday. The S&P BSE Sensex rose over 400 points, while the Nifty 50 closed above the 15,800 level. Sector wise, buying was seen in Capital Goods, IT, Metals and Public Sector stocks. The S&P BSE Mid-cap index was up 0.8 per cent while the S&P BSE Small-cap index ended 1.5 per cent higher. The stocks that were in focus included names like Which rose more than 8 percent, which was about 4 percent, and which closed…