The sports division and staff of India Cements have been incorporated into Chennai Super Kings Cricket Ltd (CSKCL) following UltraTech Cement’s acquisition of N Srinivasan’s stake in India Cements. Rupa Gurunath, his daughter, is set to join CSKCL’s board, focusing on expansion and possibly a Womens Premier League team.

India Cements’ sports unit to join team CSK

UltraTech Cements open offer for shareholders of India Cements is likely to open on September 19, and close on October 3. The mandatory open offer by UltraTech follows the company acquiring more than 55% stake in the Chennai-based cement-maker in the last two months.

UltraTech’s open offer for India Cements’ shares to open on September 19

The open offer is priced at Rs 390 per share, aggregating to a total consideration of up to Rs 3,142.4 crore.

UltraTech’s Offer For India Cements Stake To Open On Sept. 19

Buzzing Stocks Today, Stocks that will see action today: July 30, 2024 - India Cements, CESC, Tata Steel, RITES, Oberoi Realty, Bharti Airtel, SIS, Aarti Drugs, ITD Cementation, Sona BLW, PNB Housing

Stocks that will see action today: July 30, 2024

Domestic markets saw a slow start after an initially strong session. Tata Consumer, Varun Beverages were in focus due to results announcements. ACC and HPCL reported substantial profit declines. Quess Corp and India Cements had notable financial transactions. ITD Cementation won a significant order, and Tata Steel acquired equity shares in T Steel Holdings.

Stocks in news: Tata Consumer, Varun Beverages, IOC, ACC, PNB Housing

UltraTech Cement’s acquisition of a controlling stake in India Cements, based in Chennai, aims to solidify its leading position in the highly competitive cement sector and delay the Adani Group’s efforts to close the gap in the short to medium term. This move occurs as organic expansion has become costly and time-consuming.

India Cements buy to bolster UltraTech’s hold over South

“I am going to leave India Cements,” he declared. “The reason is that our competitors can crush us with lower prices. With slightly higher cost of productions, we had taken all steps to reduce costs.”

High cost, price war led to sale of India Cements: Srinivasan to staff

Paris-based Societe General divested 20.61 lakh shares in the cement manufacturer at a price of Rs 378.15 per share.

Societe Generale Sells India Cements Stake Worth Rs 78 Crore

The Future Is Good: N Srinivasan To India Cements' Staff On Change Of Guard | N18V | CNBC TV18

Market Ends Off Day's Highs, Ultratech Hikes Stake In India Cements, Sanjiv Goenka Exclusive & More

Ultratech Cement To Acquire Majority Stake In India Cements| How Will It Impact CSK?| N18V

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

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The stock has a moderate number of red flags

Promoter pledged holding

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Red flags

The India Cements Limited is a cement company. The Company's brands include Sankar Super Power, Coromandel King and Raasi Gold.