Reliance MF ups Madras Cements stake

Reliance Mutual Fund is a part of Reliance Capital,the financial services arm of Anil Ambani Group.

Prior to the acquisition of shares through open market transaction in BSE and National Stock Exchange,Reliance Capital Trustee controlled 1.184 crore shares amounting to 4.97 per cent stake in Madras Cements.

Madras Cements is the flagship company of Ramco Group. The company has five production facilities spread over South India,with a current total production capacity of 13 million tonnes per annum.

Madras Cements’ scrip today closed at Rs 151.85 apiece at the BSE,up 0.33 per cent over the previous closing.