India Cements hits six-month high after parent UltraTech's positive commentary

India Cements

22/07/2025 08:46

** India Cements ICMN.NS jumps as much as 7.4% to six-month high of 369 rupees

** Parent UltraTech Cement ULTC.NS says rapidly integrating ICMN's operations, plans capex to drive efficiency

** Confident of reaching 1,000 rupees EBITDA/ton by fiscal year 2028 from current 400 rupees

** UltraTech acquired controlling stake in India Cements in a $472 million deal last year

** Motilal Oswal Financial Services expects productivity and energy efficiency initiatives to start yielding results for ICMN from Q4 of fiscal 2027

** More than 3.3 million ICMN shares change hands, ~5x 30 day average daily volume

** ICMN trims YTD losses to 2%

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))