Saurabh Misra – Managing Director of Ultra tech Cement ltd with Kumar Mangalam, Chairman-Aditya Birla Group and Adesh Gupta, Whole Time Director & CFO of Grasim Industries Ltd at a press conference to consider a proposal from Samruddhi Cement to merge the cement business of group with itself in Mumbai on Tuesday, 06 October 2009. Aditya Birla Group will hive-off Grasim cement into Samruddhi, a wholly owned subsidiary of Grasim Industries. The demerged entity would be listed and then merged with UltraTech. The move is aimed at consolidating the group"s cement businesses into a single entity over the next eight to ten months to maximize shareholders value.

Photographer: Sachin Kadvekar

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