India Cements hits record high after UltraTech board approves deal to take control

India Cements

29/07/2024 05:15

** Shares of India Cements  ICMN.NS  rise as much as 3% to a
record high of 385 rupees   
    ** Board of UltraTech Cement  ULTC.NS  approved on Sunday a
$472 million deal to gain control of India Cements 
    ** Shares of ULTC rise 1.2%  
    ** ICMN was operating below 65%-capacity potential over the
past few years, ULTC likely to turn that around - brokerage
Antique Stock Broking 
    ** ICMN, on an average, rated "sell" vs "buy" on ULTC - LSEG
data
    ** YTD, ICMN stock has risen more than 45% 

    

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))