UltraTech to buy $226 million stake in India Cements as Adani challenge mounts
By Hritam Mukherjee BENGALURU (Reuters) -UltraTech Cement said on Thursday it will buy a 23% stake in rival India Cements for up to 18.85 billion rupees ($226 million), heating up a battle with the Adani group which is challenging its position as India’s top cement maker. Aditya Birla group-owned UltraTech had dominated the cement market …
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