UltraTech in Final Talks to Acquire Orient Cement: Board Approves India Cement Purchase

Kumar Mangalam Birla’s UltraTech Eyes Acquisition of Orient Cement to Compete in Cement Business

Kumar Mangalam Birla’s company, UltraTech Cement, is reportedly eyeing Orient Cement Limited to strengthen its position in the southern and western markets, particularly in Maharashtra and Telangana. Discussions between the promoters of UltraTech and Orient Cement are in the final round, as per media reports.

UltraTech Cement had initiated discussions earlier this year with Orient Cement to acquire the company, but a final agreement had not been reached.

Earlier this month, UltraTech Cement’s board approved the purchase of a 23% equity stake in India Cements. The company had disclosed this information in its exchange filing.

UltraTech Cement’s share has decreased by 0.96% today. In the last 5 days, the company’s share has seen an increase of 1.48%, and in the last month, it has increased by 18.56%. Over the past year, UltraTech Cement has delivered a return of 39.79%.

Orient Cement’s share has gained 0.90% in today’s trading. In the last 5 days, the company’s share has increased by 19.38%, and in the last month, it has increased by 59.98%. Over the past year, Orient Cement has delivered a return of 137.05%.

UltraTech Cement is the largest cement company in the country, with a total production capacity of 152.7 MTPA. At the beginning of this year, the company acquired Century’s cement business for ₹7,600 crore enterprise value.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.