UltraTech Cement?s Open Offer for ICL Set to Begin

13 Aug 2024 CW Team

UltraTech Cement's open offer to acquire shares of ICL (Indian Cement Limited) is scheduled to commence on September 19. This move is part of UltraTech?s strategy to expand its market presence and strengthen its position in the cement industry.

Key Details:

Open Offer Launch: UltraTech Cement?s open offer for ICL will begin on September 19, 2024. The offer allows UltraTech to acquire a significant stake in ICL.

Acquisition Strategy: The acquisition is aimed at consolidating UltraTech?s position in the cement sector and enhancing its market share through strategic growth.

Market Expansion: By acquiring ICL, UltraTech Cement plans to expand its operations and increase its capacity, which aligns with its long-term growth objectives.

Investment Implications: The open offer represents a significant investment in the cement sector, reflecting UltraTech?s commitment to strengthening its market presence and leveraging synergies from the acquisition.

Future Prospects: The successful completion of the offer is expected to bolster UltraTech?s competitive position and contribute to its strategic goals of scaling up production and expanding market reach.

Overall, UltraTech Cement?s open offer for ICL marks a key development in the company?s expansion strategy, highlighting its efforts to enhance its footprint in the cement industry.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..