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India Cements shares gain 5% in weak market; here's why stock is in demand

India Cements shares jumped 4.7 per cent in trade on Monday (June 23, 2025), logging an intraday high at ₹318.5 per share on BSE. At 9:58 AM, India Cements share price was trading 2.15 per cent higher at ₹310.75 per share on the BSE. In comparison, the BSE Sensex was down 1.02 per cent at 81,563.81. The company's market capitalisation stood at ₹9,630.06 crore. Its 52-week high was at ₹385.5 per share and 52-week low was at ₹223.7 per share. CATCH STOCK MARKET UPDATES TODAY LIVE What led to the rally in India Cements stock despite a weak market? The buying on the counter came after the company announced to sell its entire equity investment held in Industrial Chemicals and Monomers Limited (ICML), a subsidiary of the company. Upon completion of the said sale, ICML would cease to be a subsidiary. The sale is proposed at ₹97.68 crore and is expected to be completed within a period of six months from the date of the agreement. The company will enter into an agreement with Mirai Sensing Private Limited, the proposed buyer upon finalisation of terms. Another development that boosted the rally was Franklin Templeton Mutual Fund bought 2.04 million shares at ₹310.17 per share, according to the National Stock Exchange (NSE) block deal data. ALSO READ | About India Cements India Cements Limited is a subsidiary of UltraTech Cement Limited. UltraTech is the cement flagship company of the Aditya Birla Group and is the largest manufacturer of grey cement and ready mix concrete (RMC) and one of the largest manufacturers of white cement in India. India Cements was acquired by UltraTech on December 24, 2024. India Cements Ltd was founded in 1946 by Shri S N N Sankaralinga Iyer and Shri T S Narayanaswami. The company set up its first cement plant in 1949 at Sankarnagar located in Talaiyuthu, a tiny hamlet in Tirunelveli district, Tamil Nadu. From a two-plant company having a capacity of just 1.3 million tonnes in 1989, India Cements has grown robustly to a total current cement production capacity of 14.45 million tonnes per annum. India Cements has eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan, and one grinding unit in Tamil Nadu.