Stock Market Today: Star Cement share price gained up to 8% in morning trades on Friday as UltraTech announced buying a stake in the company.
Ultratech Cement in its release on the exchanges on 27 December announced that its Board of directors has approved buying stakes in Star Cement
As per the release by UltraTech, the Board of Directors of the Company at its meeting held today considered the proposal and approved making an investment to acquire non-controlling minority stake upto 3.70 crores equity shares of Star Cement at a price not exceeding Rs. 235/- per share, excluding STT; stamp duty and other levies.
Star Cement share price opened at share price at ₹237.80, on the BSE on Friday, higher than previous close of ₹229.75. The Star Cement share price thereafter saw intraday highs of ₹247.75 marking gains of almost 8%.
