UltraTech’s stake sale sends India Cements to record high
India Cements surged 8% to a record ₹400 after UltraTech Cement announced plans to sell 6.49% via a 2-day OFS to meet SEBI's minimum public shareholding norms. The sale, worth ₹740 crore at current prices, set a floor price of ₹368. Analyst Akhilesh Jat said strong buying reflects optimism on liquidity and compliance.