The Samruddhi Cements which is fully owned Subsidiary of Grasim Industries will now be merged with Ultratech Cements making Ultra Tech Cements the largest Cement Company in India and 10th Largest Cement Manufacturer in the World. Samruddhi Cement Share holder will get 4 Shares of Ultratech Cements of facevalue 10 for every 7 shares of face value 5.
According to Market Analyst the shares of Samruddhi Cement the emerged Grasim Cement Subsidiary is listing at 510.75 on its debut in the Stock Markets. After this merger the Ultratech Cement will be major in Indian Cement Industry. The Merge will also effect the valuation of Cement Majors like ACC, JAYPEE Cement, Ambuja Cement etc in the Market. The Samruddhi Cement stocks will be watched out by the Investors in next few months for long term investments.
Source:- www.imagine18.com
