M&A wave set to wash over South cement market, say industry experts

UltraTech's buy is latest in four deals southern market has seen in less than a year, with Adani Cement being the other buyer. These deals combined, industry experts say, could spur consolidation

UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country’s most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio.
 

UltraTech’s buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer. These deals combined, industry experts say, could spur consolidation.

Ravindra Reddy, director, Bharathi Cement, notes the impact