RHI Magnesita soars 14% post acquisition of Dalmia's Indian refractory biz

Based on the issuance price of RHI Magnesita India at Rs 632.5029 per share, the share consideration had a value of approximately Rs 1,708 crore.

Shares of RHI Magnesita India soared 14 per cent to Rs 735 per share in Monday’s intra-day trade, after the company announced acquisition of the Indian refractory business of Dalmia Bharat Refractories Limited (DBRL) for Rs 1,708 crore.

The stock of this refractories company traded close to its 52-week high level of Rs 738.10, which it had touched on October 21, 2022. In comparison, the S&P BSE Sensex was down 1 per cent at 61,085 at 02:36 pm. In the past one year, the stock price of RHI Magnesita zoomed 110 per cent, as against 2.5 per cent rise