New Delhi, Oct. 21 -- India Cements share price jumped nearly 8% on Wednesday, 21 October, after reports highlighted the company's plan to acquire a 3.62% stake in Zenataris Renewable Energy to secure renewable power for its cement manufacturing operations.

The company has entered into an energy supply agreement and a share subscription agreement for an equity investment exceeding Rs.20 crore. The transaction is expected to be completed within 120 days of the execution of the agreement, India Cements said in an exchange filing dated 15 October, updated on 16 October.

Hyderabad-based Zenataris Renewable Energy has been established as a special purpose vehicle (SPV) to develop and operate an inter-state transmission system (ISTS)-linked h...