ndia Cements shares skyrocketed 11%, touching ₹376.30 on the BSE, as the Competition Commission of India (CCI) gave the green light to UltraTech Cement’s strategic acquisition and open offer for a 32.72% equity stake in the company. On the flip side, UltraTech Cement shares saw a modest 1.4% climb, hitting ₹11,585.40. UltraTech’s board approved the acquisition of over 10.13 crore shares from promoters and key shareholders in India Cements, marking the “primary acquisition.” On top of that, they made an open offer to public shareholders for another 8.05 crore shares at ₹390 apiece. With CCI’s unconditional nod under Section 31(1) of the Competition Act, 2002, the deal is set to move forward seamlessly. India Cements’ stock has been on a tear, boasting a 47.12% surge in the past year and a 41.77% gain in 2024 alone. Even in the short term, it’s holding strong with a 4% uptick in the last month. With an RSI hovering near 35—firmly in the mid-range—the stock isn’t overbought, leaving room for more action as UltraTech solidifies its stake in the cement giant.