UltraTech Board Approves 32.72% Stake Purchase in India Cements

29 Jul 2024 CW Team

UltraTech Cement?s board of directors has approved a significant acquisition, purchasing a 32.72% stake in India Cements. This strategic move, valued at approximately ?7,000 crore, represents a major consolidation step in the Indian cement industry.

The decision aligns with UltraTech's broader strategy to expand its market share and enhance its footprint across the Indian cement sector. The acquisition is expected to boost UltraTech's production capacity and strengthen its competitive position in the market.

India Cements, a key player in the sector, will benefit from the influx of capital and resources provided by UltraTech, facilitating its growth and operational advancements. The deal is also poised to streamline the operational efficiencies of both companies, leveraging synergies and optimising resource allocation.

The acquisition comes amid a period of increased consolidation within the industry, as major players seek to bolster their market presence and respond to evolving economic conditions. UltraTech?s move underscores its commitment to expanding its reach and reinforcing its leadership position in the Indian market.

This development marks a pivotal moment for both UltraTech and India Cements, potentially reshaping the dynamics of the cement industry. As UltraTech integrates its new assets, the industry will be watching closely to see how this strategic acquisition influences market trends and operational strategies moving forward.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..