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The promoters’ stake in India Cements has increased to 28.24 per cent, with the acquisition of 76 lakh shares from the open market. According to a filing on the Bombay Stock Exchange, Prince Holdings (Madras), a promoter group company, bought these shares for Rs 65.36 crore.
Prior to this transaction, promoters held 7.91 crore shares, constituting a 25.77 per cent shareholding in the company. The company promoters now hold 8.67 crore shares. Prince Holdings’ stake in India Cements now has gone up to 8.3 per cent from 5.83 per cent earlier. The India Cements share price was up 0.6 per cent on Thursday on the BSE at Rs 86.10.
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