For those are who have been following it, the Indian Cement Industry is rocking. It has been one of the best performers in fundamentals and also in the stock markets.
Vallabh Bhansali of Enam Securities comments on the proposed demerger of Grasim’s cement business and formation of a wholly owned subsidiary called Samruddhi Cements, which will ultimately get merged with Ultratech Cement, which is also part of AV Birla Group like Grasim.
Ultratech has shareholding in it by rival Larsen & Toubro, so that could be a reason why a direct transfer into Ultratech is not being done.