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India Cements Ltd. ( (IN:INDIACEM) ) just unveiled an update.
India Cements Limited has announced the sale of its entire equity investment in PT Adcoal Energindo, Indonesia, through its subsidiaries PT Coromandel Minerals Resources and Raasi Minerals Pte. Limited. This move will result in PT Adcoal ceasing to be a subsidiary and PT Mitra Setia Tanah Bumbu, in which PT Adcoal holds a 49% stake, ceasing to be an associate of India Cements. The sale is expected to be completed within six months, with a proposed consideration of IDR 10 billion. This strategic divestment is not a related party transaction and involves buyers who are not part of the promoter group, potentially allowing India Cements to streamline its operations and focus on core business areas.
More about India Cements Ltd.
India Cements Limited, a subsidiary of UltraTech Cement Limited, operates in the cement industry. The company is involved in the production and sale of cement, serving various sectors across India and potentially international markets.
Average Trading Volume: 33,248
Technical Sentiment Signal: Buy
Current Market Cap: 120B INR
For detailed information about INDIACEM stock, go to TipRanks’ Stock Analysis page.