UltraTech to buy Srinivasan stake in India Cements

Kumar Mangalam Birla cemented his position as India’s top building materials maker by acquiring N Srinivasan’s cement business for Rs 3,954 crore. UltraTech Cement’s move includes a 33% stake in India Cements. This deal, pending regulatory approval, aims to expand UltraTech’s reach in southern India, especially Tamil Nadu, enhancing its capacity and market presence.