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UltraTech to buy 23% stake in India Cements for Rs 1,885 crore
"The Board of Directors of the Company at its meeting held today approved making a financial investment to purchase upto 7.06 crores equity shares of The India Cements Limited (ICL)...at a price of upto Rs. 267/- per share. This non-controlling financial investment constitutes around 23% of the equity share capital of ICL," UltraTech said in a regulatory filing.