India Cements shares rally 10% as UltraTech buys non controlling stake via block deal

India Cements shares soared 10% during early trading on the Bombay Stock Exchange, reaching a new 52-week high of Rs 289.20. This surge followed UltraTech Cement's board approval to acquire a non-controlling 23% stake in India Cements. The deal, valued at approximately Rs 1,885 crore, involved the exchange of about six crore shares, with UltraTech Cement purchasing India Cements' shares at Rs 267 each during the pre-market session.