{"id":258,"date":"2024-12-27T17:20:51","date_gmt":"2024-12-27T11:50:51","guid":{"rendered":"https:\/\/10on10.io\/?p=258"},"modified":"2024-12-27T17:21:07","modified_gmt":"2024-12-27T11:51:07","slug":"ultratech-to-acquire-8-69-stake-in-star-cement-for-%e2%82%b9851-crore-amid-industry-competition","status":"publish","type":"post","link":"https:\/\/10on10.io\/?p=258","title":{"rendered":"UltraTech to Acquire 8.69% Stake in Star Cement for \u20b9851 Crore Amid Industry Competition"},"content":{"rendered":"\n<p>UltraTech Cement, India&#8217;s largest cement producer, announced on Friday that it will purchase an <strong>8.69% stake<\/strong> in <strong>Star Cement<\/strong> for up to <strong>\u20b9851 crore<\/strong> ($100 million). The deal comes after the <strong>Adani Group<\/strong> had been reported to show interest in acquiring Star Cement, a major player in India\u2019s northeastern cement market.<\/p>\n\n\n\n<p>UltraTech plans to acquire the stake at a price not exceeding <strong>235 rupees per share<\/strong>, a <strong>2% premium<\/strong> over the stock&#8217;s closing price on Thursday.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Strategic Move in the Cement Industry<\/strong><\/h3>\n\n\n\n<p>This acquisition highlights the ongoing competition in India&#8217;s cement sector between <strong>UltraTech<\/strong> and the <strong>Adani Group<\/strong>. The two giants have been battling for market share, particularly as the <strong>Indian government<\/strong> continues to heavily invest in <strong>infrastructure development<\/strong>. UltraTech&#8217;s purchase of the stake in Star Cement signals a shift, with <strong>Adani Group<\/strong> possibly stepping back from its previously rumored bid to acquire the company.<\/p>\n\n\n\n<p>Analysts suggest that with <strong>UltraTech<\/strong> making the first move, it is unlikely that <strong>Adani<\/strong> will proceed with the acquisition. According to <strong>Ashutosh Murarka<\/strong>, an analyst at <strong>Choice Broking<\/strong>, UltraTech could consider increasing its stake in Star Cement to strengthen its presence in the northeast and expedite its capacity expansion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Response<\/strong><\/h3>\n\n\n\n<p>Following the announcement, Star Cement&#8217;s stock surged <strong>7%<\/strong> to <strong>247 rupees<\/strong>, exceeding the maximum offer price, indicating that investors may expect a higher bid or a potential rival offer. However, the stock later settled back around the offer price.<\/p>\n\n\n\n<p>In contrast, UltraTech&#8217;s shares dropped <strong>0.4%<\/strong>, while shares of <strong>Ambuja Cements<\/strong>, controlled by the <strong>Adani Group<\/strong>, remained flat. The stock of <strong>ACC<\/strong> fell <strong>1%<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Star Cement\u2019s Performance<\/strong><\/h3>\n\n\n\n<p>Despite being a leading player in northeastern India, <strong>Star Cement<\/strong> faces strong competition from industry leaders. According to brokerage <strong>Nirmal Bang<\/strong>, Star&#8217;s sales growth is expected to slow significantly to <strong>6.8%<\/strong> in the current fiscal year, compared to <strong>22%<\/strong> in 2023.<\/p>\n\n\n\n<p>This strategic investment by UltraTech reflects its ambitions to expand its footprint and strengthen its competitive edge in the Indian cement market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UltraTech Cement, India&#8217;s largest cement producer, announced on Friday that it will purchase an 8.69% stake in Star Cement for up to \u20b9851 crore ($100 million). The deal comes after the Adani Group had been reported to show interest in acquiring Star Cement, a major player in India\u2019s northeastern cement market. UltraTech plans to acquire [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[55],"tags":[309,311,312,316,304,315,306,314,305,307,310,313,303,308,302],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>UltraTech to Acquire 8.69% Stake in Star Cement for \u20b9851 Crore Amid Industry Competition - 10on10<\/title>\r\n<meta name=\"description\" content=\"UltraTech Cement to buy 8.69% stake in Star Cement for \u20b9851 crore, expanding market presence.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/10on10.io\/?p=258\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"UltraTech to Acquire 8.69% Stake in Star Cement for \u20b9851 Crore Amid Industry Competition - 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