💨 Abstract
India's UltraTech Cement is purchasing an 8.69% stake in Star Cement for up to 8.51 billion rupees ($100 million), strengthening its position in the cement sector. This deal comes amid competition from Gautam Adani's conglomerate entering the industry. Star Cement's shares jumped 7% following the announcement, indicating expectations of a higher offer or rival bid.
Courtesy: theprint.in
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