Current Affairs - Business - Discussion

UltraTech Cement, a flagship company of the Aditya Birla Group, received approval from the Competition Commission of India (CCI) for its ₹3,954-crore acquisition of India Cements Ltd (ICL). This strategic deal involves a significant stake acquisition, including shares from ICL promoters and associates, to enhance UltraTech’s market presence in the southern cement market, especially in Tamil Nadu. The acquisition aligns with UltraTech’s growth strategy to expand its installed capacity and strengthen its position as a global leader in the cement industry.