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Shares of Dalmia Bharat were trading higher by 4% at Rs 480 on BSE after the company said it has increased stake in OCL India, one of the largest cement entities in Eastern India with plants in Orissa and West Bengal.
“The company’s subsidiary Company, Dalmia Cement (Bharat) Limited on February 25, 2015 has increased its stake in OCL India Limited from 48% to 74.6% through inter-se transfer within the promoter group of OCL India Limited,” Dalmia Bharat said in a statement.
As a part of the consolidation and growth of the cement sector, the Dalmia Bharat Group has been strategically acquiring assets and creating new assets in Southern, Eastern and North-Eastern India, it added.
The company said the move would help in creating better operational synergies across the Group’s footprint. It is a step forward in the commitment towards aligning all stakeholders’ interests and overall value creation.
The stock opened at Rs 461 and touched a high of Rs 500 on BSE. The trading volumes on the counter more than doubled with a combined 132,815 shares changed hands till 1259 hours on BSE and NSE.
“The company’s subsidiary Company, Dalmia Cement (Bharat) Limited on February 25, 2015 has increased its stake in OCL India Limited from 48% to 74.6% through inter-se transfer within the promoter group of OCL India Limited,” Dalmia Bharat said in a statement.
As a part of the consolidation and growth of the cement sector, the Dalmia Bharat Group has been strategically acquiring assets and creating new assets in Southern, Eastern and North-Eastern India, it added.
The company said the move would help in creating better operational synergies across the Group’s footprint. It is a step forward in the commitment towards aligning all stakeholders’ interests and overall value creation.
The stock opened at Rs 461 and touched a high of Rs 500 on BSE. The trading volumes on the counter more than doubled with a combined 132,815 shares changed hands till 1259 hours on BSE and NSE.
