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Shares of <keyword id="20415123" type="General" weightage="20" keywordseo="India-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements" meta.hostid="261" meta.entityid="India Cements">India Cements</keyword> Ltd jumped nearly 14 per cent on Thursday morning after leading <keyword id="6378916" type="General" weightage="20" keywordseo="cement" source="Orion">cement</keyword> maker <keyword id="19963567" type="General" weightage="100" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> said it will acquire around 23 per cent stake in the Chennai-based firm for up to Rs 1,885 crore. The stock soared 13.70 per cent to hit 52-week high of Rs 299 on the BSE. On the NSE, the stock climbed 13.77 per cent to Rs 298.80 -- its 52-week high. Shares of UltraTech Cement also jumped 6.51 per cent to hit the one-year peak of Rs 11,875.95 on the BSE. The board of directors of the company at its meeting held on Thursday approved "making a financial investment to purchase up to 7.06 crore equity shares of the India Cements Ltd," a regulatory filing by UltraTech Cement said. The deal would be at "at a price of up to Rs 267 per share," and this non-controlling financial investment constitutes around 23 per cent of the equity share capital of India Cements, the filing said. India Cements' turnover for financial year 2023-24 stood at Rs 5,112 crore. UltraTech Cement has a consolidated capacity of 152.7 Million Tonnes Per Annum (MTPA) of grey cement. It has 24 integrated manufacturing units, 33 grinding units, one clinkerisation unit and 8 bulk packaging terminals.

India Cements' shares jump nearly 14%, UltraTech Cement soars 6.50% following acquisition news

Equity benchmarks started the trade on a positive note on Friday, with the <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> climbing over 113 points in <keyword id="51932" type="General" weightage="20" keywordseo="early-trade" source="Orion">early trade</keyword>, amid mixed trends from global equities. The 30-share BSE index advanced 113.2 points to 60,411.20 in early deals. The broader NSE <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> climbed 35.7 points to 17,992.20. Later, both the benchmark indices turned volatile, with the Sensex and the Nifty swinging between gains and losses. From the Sensex pack, <keyword id="43217" type="General" weightage="50" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword>, Kotak Mahindra Bank, Wipro, Tata Consultancy Services, Larsen &amp; Toubro, HCL Technologies, <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword>, Titan, Sun Pharma and <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword> were among the major gainers in early trade. On the other hand, IndusInd Bank, Power Grid, ICICI Bank, NTPC and <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> were among the biggest laggards. In Asia, markets in Seoul and Shanghai were trading lower, while Tokyo and Hong Kong quoted in the green in mid-session deals. Markets on the Wall Street had ended higher on Thursday. The BSE benchmark index had ended 37.87 points or 0.06 per cent higher at 60,298 on Thursday. The Nifty gained 12.25 points or 0.07 per cent to settle at 17,956.50. Meanwhile, the international oil benchmark Brent crude was trading 0.38 per cent lower at USD 96.21 per barrel. <keyword id="6438315" type="General" weightage="50" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) offloaded shares after many days as they sold shares worth Rs 1,706 crore on Thursday, according to exchange data. "The market momentum which pushed the Nifty up by 18 per cent from the June lows is likely to face some headwinds from now on. The sudden sharp spike in the dollar index will impact capital flows to emerging markets like India. The consistent FII buying seen in August is likely to lose steam impacting sentiments," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mahindra-scorpio-classic-vs-mahindra-scorpio-n-price-variants-and-features-compared/slidelist/93654717.cms">Mahindra Scorpio Classic vs Mahindra Scorpio-N: Price, variants, and features compared</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-to-reduce-low-quality-unoriginal-content-in-search-results/articleshow/93652179.cms">Google to reduce 'low-quality, unoriginal' content in Search results</a>

Sensex climbs 113 points in early trade, amid mixed global trends

The Indian stock market rose on Monday morning with the BSE <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> gaining over 200 points. Rise in the shares of index-heavyweights <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> and ICICI Bank lifted the index. Around 10.15 a.m., Sensex was trading at 52,631.44, higher by 245.25 points or 0.47 per cent from its previous close of 52,386.19. It opened at 52,634.33 and has touched an intra-day high of 52,685.90 and a low of 52,568.92 points. The top gainers on the Sensex were <keyword id="6355596" type="COMPANY" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, ICICI Bank and Maruti Suzuki India, while the major losers were Bajaj Finserv, Bharti Airtel and Hindustan Unilever. The Nifty50 on the <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 15,760.65, higher by 70.85 points or 0.45 per cent from its previous close. Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> has bounced from Friday's low and is once again trading around the midpoint of the range which is 15,400-15,900. If we can scale higher and get past 15,900, we should be able to achieve 16,100. Until then trading is going to be lackluster with tepid volumes." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/careers/news/nirvaan-birlas-edtech-startup-birla-brainiacs-plans-to-hire-1500-teachers/articleshow/84315576.cms">Nirvaan Birla’s edtech startup Birla Brainiacs plans to raise up to $10 million, to hire 1500 teachers in the next two years</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-ecommerce-website-is-down-as-the-company-is-hit-by-a-massive-outage/articleshow/84335580.cms">Amazon India product pages are down across the website as buyers begin their Monday morning shopping</a>

Sensex surges by 245 points, Nifty trading at 15,760 — UltraTech Cement, ICICI Bank and Maruti Suzuki India top gainers

<ul><li>India's cement production will climb by around 6-8% over fiscal years 2023 and 2024. </li><li>A growing housing sector, which typically accounts for 60-65% of India's cement consumption, will remain a key demand driver. </li><li>In the Union Budget for fiscal 2024, the government allocated $1.8 billion to safe housing, clean drinking water and sanitation. </li></ul>Infrastructure-led investments and mass residential projects will keep India’s cement demand strong, according to a Moody’s Investors Service report. It also said that India's cement production will climb by around 6-8% over fiscal years 2023 and 2024, following a 21% jump in FY22. “A growing housing sector, which typically accounts for 60-65% of India's cement consumption, will remain a key demand driver. Also, continued large investments in roads and infrastructure projects will fuel cement demand,” said Moody’s. India built 12,000 kilometers of highways in 2022 alone and this momentum will likely continue in 2023 and 2024, supported by various government initiatives. Furthermore, in the Union Budget 2023-24, the government allocated $1.8 billion for the creation of safe housing, clean drinking water and sanitation, and increasing road and telecom connectivity, among other initiatives. The government has also allocated $9.6 billion to address urban housing shortages. Elevated costs to hit profitability While cement demand remained solid in the world's second-largest cement market for most of FY23, profitability slid sharply, largely owing to elevated costs of pet coke, coal and diesel. “A sequential, quarter-on-quarter, decline in these costs will prevent a further sharp decline in profitability, although a return to the unusually high profits cement producers enjoyed in fiscal 2022 is highly unlikely,” Moody’s said. The agency predicted that the EBITDA margin for leading pan-India cement producer UltraTech Cement, will fall to about 18% in FY23 and around the 20% mark in FY24. It had hit 23%-26% for FY22. Following the acquisition of Holcim's India cement operations by Adani group, several cement producers announced new capacity additions totaling 60 million tonnes that will likely keep capacity utilization under 70% and prevent sharp price increases. India’s cement production has been going up in the last few years, after seeing a drop FY21 to less than 300 million tonnes. Currently, it stands around 350 million tonnes and according to Moody’s it will steadily climb due to a robust infrastructure growth. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/catching-em-early-early-stage-startups-shine-as-their-investor-pool-widens/articleshow/97918089.cms">Catching ‘em early: Early-stage startups shine as their investor pool widens</a> <a href="https://www.businessinsider.in/business/news/passenger-vehicles-recorded-highest-ever-sales-this-january-says-siam/articleshow/97874958.cms">Passenger vehicles recorded highest-ever sales this January says SIAM</a>

Infra & housing projects to keep India’s cement demand strong: Moody’s

Equity benchmark <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> jumped nearly 200 points in early trade on Wednesday, tracking gains in index heavyweights <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, <keyword id="6354287" type="DOMAIN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword> and SBI ahead of the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>'s monetary policy outcome. The 30-share BSE index was trading 199.01 points or 0.40 per cent higher at 49,400.40, and the broader NSE Nifty advanced 68.90 points or 0.47 per cent to 14,752.40. Reliance Industries was the top gainer in the <keyword id="9940028" type="UNKNOWN" weightage="20" keywordseo="sensex-pack">Sensex pack</keyword>, rising over 2 per cent, followed by Bharti Airtel, <keyword id="66427" type="DOMAIN" weightage="20" keywordseo="PowerGrid">PowerGrid</keyword>, <keyword id="6355596" type="DOMAIN" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, Dr Reddy's, IndusInd Bank and ONGC. On the other hand, TCS, <keyword id="43217" type="DOMAIN" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, Kotak Bank and HDFC twins were among the laggards. In the previous session, Sensex settled 42.07 points or 0.09 per cent higher at 49,201.39, and Nifty advanced 45.70 points or 0.31 per cent to 14,683.50. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,092.75 crore on Tuesday, as per exchange data. According to traders, domestic investors are awaiting the outcome of the RBI's policy meet later in the day. "These days there is a combination of good and bad news exerting push and pull effects on markets, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The steady decline in US 10-year bond yield to 1.66 per cent from above 1.75 per cent and dollar index to 92.3 from above 93 are clear positives. And now the IMF has projected GDP growth of 12.5 per cent for FY22 for India. FDI is rising smartly, he noted. But these positives are being countered by the big negative -- rising COVID-19 cases in the country, he added. Elsewhere in Asia, bourses in Shanghai and Hong Kong were trading on a negative note in mid-session deals, while Seoul and Tokyo were in the positive terrain. Stock exchanges on Wall Street too ended in the red in overnight trade. Meanwhile, the global oil benchmark Brent crude was trading 0.33 per cent higher at USD 62.95 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/science/space/news/earth-isnt-the-only-planet-with-rain-and-it-could-be-the-key-to-finding-a-habitable-planet-outside-the-solar-system/articleshow/81926108.cms">Raindrops on other planets could be key in search for life beyond the solar system</a> <a href="https://www.businessinsider.in/retail/news/at-least-one-in-three-dmart-stores-are-in-maharashtra-and-that-is-squeezing-radhakishan-damani-fortunes/articleshow/81928702.cms">At least one in three DMart stores are in Maharashtra and that is squeezing Radhakishan Damani’s fortunes</a>

Sensex jumps 200 points in early trade; Nifty tests 14,750 —Reliance Industries,  Bharti Airtel, PowerGrid, UltraTech Cement top gainers

The key Indian equity indices traded in the positive territory on Thursday morning led by healthy buying in metal stocks. Around 10.40 a.m., <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15. It opened at 49,868.53 and has touched an intraday high of 49,942.84 and a low of 49,653.67 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 14,750.45, higher by 59.75 points or 0.41 per cent from its previous close. Manish Hathiramani, technical analyst with Deen Dayal Investments said: "We need to get past 14,950 for an upward directional move to commence. If we can do that, we should achieve 15,300 as the next target. If we break 14,500, the markets will drift southwards and retest the recent lows of 14,200. Until either levels are not taken out, the <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> will be sideways." The top gainers on the Sensex were <keyword id="30331" type="DOMAIN" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword>, <keyword id="6359783" type="DOMAIN" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> and <keyword id="6355596" type="DOMAIN" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, while the major losers were <keyword id="6357149" type="DOMAIN" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>, <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> and <keyword id="6356830" type="DOMAIN" weightage="20" keywordseo="nestle-india">Nestle India</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-share-price-jumps-over-1-after-117-million-acquisition-of-australian-cybersecurity-firm-ampion/articleshow/81817928.cms">Wipro's share price jumps over 1% after $117 million acquisition of Australian cybersecurity firm Ampion</a> <a href="https://www.businessinsider.in/careers/news/paytm-money-set-to-hire-250-engineers-for-its-new-technology-centre-in-pune/articleshow/81813092.cms">Paytm Money set to hire 250 engineers for its new technology centre in Pune</a> <a href="https://www.businessinsider.in/finance/news/government-withdraws-interest-rate-cut-on-small-savings-schemes-in-a-bizarre-u-turn/articleshow/81813361.cms">Government withdraws interest rate cut on small savings schemes in a bizarre u-turn</a> <a href="https://www.businessinsider.in/stock-market/news/coursera-soars-23-in-trading-debut-following-4-3-billion-ipo/articleshow/81785440.cms">Coursera soars 23% in trading debut following $4.3 billion IPO</a>

Sensex rises by 174 points, Nifty trading at 14,750 — HCL Technologies, Bajaj Auto and UltraTech Cement top gainers

Domestic equity benchmark Sensex rallied 364 points on Monday, driven by <keyword id="9817889" type="UNKNOWN" weightage="20" keywordseo="strong-buying">strong buying</keyword> in financial counters amid a positive trend in global equities and sustained foreign fund inflows. The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> ended 364.36 points or 0.95 per cent higher at 38,799.08. The NSE Nifty jumped 94.85 points or 0.83 per cent to 11,466.45. <keyword id="6407278" type="COMPANY" weightage="20" keywordseo="kotak-bank">Kotak Bank</keyword> was the top gainer in the Sensex pack, rising over 3 per cent, followed by IndusInd Bank, Bajaj Finance, HDFC Bank, ICICI Bank, Bajaj Finserv, Maruti and SBI. On the other hand, PowerGrid, M&amp;M, <keyword id="43217" type="COMPANY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, Titan, NTPC, <keyword id="6359783" type="COMPANY" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> and <keyword id="6355596" type="COMPANY" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword> were among the laggards. According to traders, domestic bourses followed the positive trend in global equities, with strong buying in financial stocks lifting the key indices. Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant gains. Stock exchanges in Europe too opened on a strong note. Sustained foreign fund inflows also boosted investor sentiment here, traders said. Foreign institutional investors bought equities worth Rs 410.16 crore on a net basis on Friday, exchange data showed. In the forex market, the rupee soared 52 paise to settle at 74.32 against the US dollar. Meanwhile, global oil benchmark <keyword id="56586" type="PERSON" weightage="20" keywordseo="Brent-crude">Brent crude</keyword> was trading 0.71 per cent higher at USD 45.25 per barrel. SEE ALSO:<a href="https://www.businessinsider.in/finance/banks/news/axis-bank-trims-its-investment-in-max-life-insurance-from-30-to-18/articleshow/77721249.cms" data-type="tilCustomLink"> Axis Bank trims its investment in Max Life Insurance from 30% to 18%</a> <a href="https://www.businessinsider.in/stock-market/news/airtel-stock-is-getting-knocked-down-as-investors-fear-it-may-have-to-pay-videocons-dues/articleshow/77714933.cms" data-type="tilCustomLink">Airtel stock is getting knocked down as investors fear it may have to pay Videocon's dues</a>

You Searched For "ultratech cement investment" and got 7 results

India Cements' shares jump nearly 14%, UltraTech Cement soars 6.50% following acquisition news

PTI

Sensex climbs 113 points in early trade, amid mixed global trends

PTI

Sensex surges by 245 points, Nifty trading at 15,760 — UltraTech Cement, ICICI Bank and Maruti Suzuki India top gainers

IANS

Infra & housing projects to keep India’s cement demand strong: Moody’s

Anagh Pal

Sensex jumps 200 points in early trade; Nifty tests 14,750 —Reliance Industries, Bharti Airtel, PowerGrid, UltraTech Cement top gainers

PTI

Sensex rises by 174 points, Nifty trading at 14,750 — HCL Technologies, Bajaj Auto and UltraTech Cement top gainers

IANS

Sensex scales a new 6-month high

PTI

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