India Cements soars 18% as Radhakishan Damani's brother picks stake

INSUBCONTINENT EXCLUSIVE:
shares at Rs 82.7 per share
Damani himself held 1,46,24,021 shares or 4.73 per cent stake in the cement maker as of December 31
Following the development, the scrip jumped 18.52 per cent to hit a high of Rs 103.35 on BSE. Motilal Oswal Securities expects cement sector
utilisation to improve structurally over the next three years given just 4 per cent compounded annual growth capacity addition against a
which may lead to further delay in capacity expansion
We continue to believe that strong cash generation and debt reduction will be the key catalysts for the stock until which, the stock might