India Cements shares skyrocket 11% as CCI approves acquisition by UltraTech

India Cements' shares surged 11% after the Competition Commission of India (CCI) greenlit UltraTech Cement's acquisition of a 32.72% stake. UltraTech's board approved the acquisition and a subsequent open offer at ₹390 per share. India Cements' stock has seen significant gains over the past year and various shorter timeframes, trading above key moving averages.