Despite recent reports, India Cements has denied that Radhakishan Damani, owner of Avenue Supermarts Ltd, will be acquiring a controlling interest in the company.
Mr Damani currently holds a stake of around 20 per cent, while the related group has a stake of around 29 per cent.
"Damani is an investor, so he has been acquiring a stake in India Cements over a period of time. It does not seem like he would want to own and operate a cement company," said a Mumbai broker to The Hindu BusinessLine.
Qassim Cement appoints new board chairman and vice chairman
has appointed Dr Muhammad bin Nasser Al Dawood as chairman of the Board of Directors as of 1 J...