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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 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

<ul><li>At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to see a slow start on Friday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. The US stocks closed mixed on Thursday amid disappointing economic data and slowed stimulus progress. The Dow Jones Industrial Average closed 0.23% lower, and the Nasdaq Composite was up 66 points. These are the stocks to watch out for during the trading session today: TVS Motor The members of the $8.5 billion TVS family decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies. The share price of TVS Motor closed 0.42% lower on Thursday. IRCTC The offer-for-sale for the Indian Railway Catering and Tourism Corp (IRCTC) was subscribed nearly two times on day by the non-retail investors. The retail investors will get a chance to bid for IRCTC offer-for-sale (OFS) today. The government is planning to sell up to 20% stake in IRCTC through OFS which opened for subscription on Thursday. The share price of IRCTC closed 12% lower on Thursday. HDFC Bank The private lender HDFC Bank informed exchanges that the Reserve Bank of India (RBI) had imposed a monetary penalty of ₹10 lakh on the bank for bouncing of subsidiary general ledger (SGL). This led to a shortage of balance in certain securities in the Bank’s CSGL account on November 19, it said. The share price of HDFC Bank closed 2% lower on Thursday. Dalmia Bharat, UltraTech Cement, ACC, Ambuja Cements and Shree Cement According to <a href="https://www.livemint.com/news/india/cci-searches-offices-of-major-cement-cos-11607621552574.html">reports</a>, the Competition Commission of India (CCI) has conducted searches on the premises UltraTech Cement, ACC, Ambuja Cements, Dalmia Cement (Bharat) and Shree Cement, among others to find evidence of price collusion. United Spirits United Spirits, a part of global liquor giant Diageo appointed Hina Nagarajan as the company’s new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30. The share price of United Spirits closed 2% higher on Thursday. TCS Tata Consultancy Services (TCS) said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state. The share price of TCS closed 1% lower on Thursday. Mahindra &amp; Mahindra ICRA has reaffirmed Mahindra &amp; Mahindra rating of non-convertible debenture programme of ₹1,500 crore to stable. It has also assigned a stable rating to long-term loans worth ₹1,800 crore. The share price of Mahindra &amp; Mahindra closed 3% lower on Thursday. Canara Bank Canara Bank said it had approved the issue price at ₹103.50 per share for its qualified institutional placement (QIP) to raise ₹2,000 crore. Earlier this week, the bank had set the floor price for the issue at ₹103.50 apiece. The share price of Canara Bank closed 5% lower on Thursday. Jash Engineering The pump and pumping equipment manufacturing company, Jash Engineering received orders worth ₹20.65 crore in November. The share price of Jash Engineering closed 2% lower on Thursday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

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

PTI

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

PTI

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

Navdeep Yadav

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