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Dalmia Bharat rises as arm hikes stake in OCL India to 74.6%

26 Feb 2015 Evaluate

Dalmia Bharat is currently trading at Rs. 479.95, up by 2.60 points or 0.54% from its previous closing of Rs. 477.35 on the BSE.

The scrip opened at Rs. 480.00 and has touched a high and low of Rs. 485.00 and Rs. 474.95 respectively. So far 4,778 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 567.00 on 18-Nov-2014 and a 52 week low of Rs. 167.45 on 03-Mar-2014.

Last one week high and low of the scrip stood at Rs. 500.00 and Rs. 450.00 respectively. The current market cap of the company is Rs. 3,896.00 crore.

The promoters holding in the company stood at 62.80%, while Institutions and Non-Institutions held 14.06% and 23.15% respectively.

Dalmia Bharat’s subsidiary Company - Dalmia Cement (Bharat) (DCBL) is consolidating its shareholding in OCL India, one of the largest cement entities in Eastern India with plants in Orissa and West Bengal. This move is 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.

DCBL has increased its stake in OCL India from 48.0% to 74.6% through inter-se promoter transfer. Overall promoter shareholding in Dalmia Bharat and DCBL remains unchanged. With this consolidation, the group’s regional capacity mix stands at 48% in South and 52% in East and North East.

OCL India is a leading player in the Eastern region and has shown strong performance in the last two years. The move would help in creating better operational synergies across the Group’s footprint. Dalmia Cement has ongoing Greenfield projects which along with acquired capacities will take the group capacity to around 24 million tonne in FY16.

 

Peers
Company Name CMP
Ultratech Cement 11887.30
Ambuja Cement 458.95
ACC 1431.85
Shree Cement 25301.95
Dalmia Bharat 1972.55
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