UltraTech Cement Acquires Grinding Assets Of Burnpur Cement For Rs 169.7 Crore

UltraTech Cement Ltd. acquired 0.54 MTPA cement grinding assets worth Rs 169.79 crore from Burnpur Cement Ltd. on Wednesday.

The acquisition of the 0.54 MTPA cement grinding assets of Burnpur Cement, located in Jharkhand's Patratu, pushes UltraTech's capacity in India to 133 MTPA, according to an exchange filing. The acquisition has been done under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, it said.

Shares of the company closed 0.19% higher at Rs 8,742.75 apiece; this compares to a 1.04% advance in the NSE Nifty 50.