Ramco Industries Limited — Important, 25-11-2024: General Updates

Ramco Industries Limited has acquired 1,30,900 shares of The Ramco Cements Limited for a total consideration of Rs.12.67 Crores, well within its board-approved limit of Rs.160 Crores. The shares were purchased at a price of Rs.966.43 per share, including brokerage. This acquisition reflects the company's strategic investment approach, considering its existing stake has appreciated significantly to Rs.4,376.25 Crores. The Ramco Cements Limited, a key player in the cement industry, reported a turnover of Rs.9,392.17 Crores for the financial year ending March 31, 2024. The acquisition is expected to be completed within nine months from board approval. Despite the promoter's interest in both entities, the transaction will be executed through stock exchanges, ensuring it is at arm's length. The transaction underscores a positive outlook for Ramco Industries as it enhances its portfolio in the cement sector.