UltraTech Cement is reportedly in final-stage talks with Jaiprakash Associates to buy its 4.8-million-tonne cement plants in Gujarat. The deal may be valued at Rs 4100 crore and is expected to be sealed before May this year.
The deal, if accomplished, will strengthen the AdityaBirla Group Company’s grip on the domestic cement market.
UltraTech Cement reported a fall of 16.27% in its net profit at Rs 726.20 crore for the quarter ended March 31, 2013 as compared to Rs 867.30 crore for the same quarter in the previous year. However, total income of the company increased marginally by 0.78% at Rs 5572.52 crore for quarter under review as compared to Rs 5529.14 crore for the quarter ended March 31, 2012.