UltraTech Cement Limited to acquire 1.1 MTPA grinding unit at Parli, Maharashtra

The Board of Directors of UltraTech Cement Limited have approved purchase of a grinding unit having installed capacity of 1.1 mtpa in addition to a captive railway siding, at Parli, Maharashtra from The India Cements Limited, a company incorporated under the Indian Companies Act, 1913 and having its registered office at Dhun Building, 827, Anna Salai, Chennai 600 002 ("Seller") for a consideration of Rs. 315 crores. The Company has entered into an Asset Purchase Agreement with the Seller for the aforesaid transaction.

This purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets.

Shares of UltraTech Cement Limited was last trading in BSE at Rs. 9367.40 as compared to the previous close of Rs. 9387.20. The total number of shares traded during the day was 9112 in over 3425 trades.

The stock hit an intraday high of Rs. 9400.00 and intraday low of 9250.10. The net turnover during the day was Rs. 84987146.00.

Source : Equity Bulls

Keywords

UltraTechCement INE481G01011 Acquisition GrindingUnit Parli Maharashtra TheIndiaCements