India, March 17 -- There is consolidation in the Indian cement sector even after Adani Group's large acquisition of cement assets of ACC, Ambuja and Sanghi Industries. Now, the Birla Group's Ultratech Cement has acquired the cement company of Kesoram Industries. There have been 13 mergers and acquisitions during the last 7 years in the Indian cement industry and sector analysts feel that this trend may continue as larger corporates with stronger financial muscle are trying to boost their market share through inorganic growth driving healthy consolidation in the cement industry.
Published by HT Digital Content Services with permission from The Sunday Guardian....