UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
Sabaretnam is survived by two sons and a daughter.
The Indian Premier League will get two new teams on Tuesday for the ninth edition of the popular Twenty20 tournament.
The BCCI followed the reverse bidding process to select the two new team owners. The new teams will replace the suspended teams Chennai Super Kings and Rajasthan Royals, for two years.
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