UltraTech Expands Stake Amid Cement Industry Rivalry

UltraTech Cement acquired an 8.69% stake in Star Cement from its promoters for Rs 851 crore. This move comes after acquiring India Cements, increasing competition with Adani Group's Ambuja Cements. Both firms aim to expand capacity and market presence through strategic acquisitions.

UltraTech Cement, a leading cement producer, has announced the acquisition of an 8.69% stake in Meghalaya-based Star Cement. The acquisition, valued at Rs 851 crore, was conducted through a deal with Star Cement's promoters.

This strategic move by UltraTech aims to solidify its position amidst growing competition from Adani Group's Ambuja Cements, a dominant player that's rapidly expanding its capacity.

With several acquisitions under its belt, including India Cements, UltraTech continues its aggressive growth strategy in the cement sector.

(With inputs from agencies.)