On Thursday, June 27, a significant 20% equity stake in India Cements was sold in a block deal. Details of the buyers and sellers were not immediately disclosed, although CNBC TV18 had earlier reported that UltraTech Cement was interested in acquiring a stake in India Cements.
Deal Highlights
The block deal involved 6 crore shares traded at Rs 265 per share, totaling approximately Rs 1,600 crore in value.
Market Reaction
India Cements’ stock had surged 14% in the previous session, closing at Rs 261.5 on Wednesday, June 26.
