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India's UltraTech to buy $100m stake in Star Cement amid Adani rivalry

India's UltraTech to buy $100m stake in Star Cement amid Adani rivalry

Source: UltraTech Cement

UltraTech, India’s top cement maker will buy an 8.69% stake in Star Cement, it said on Friday, in a deal worth up to Rs 851 crore ($100 million) for a company that rival Adani Group was reportedly interested in acquiring.