Birla Corporation is currently trading at Rs. 486.15, up by 33.20 points or 7.33% from its previous closing of Rs. 452.95 on the BSE.
The scrip opened at Rs. 454.90 and has touched a high and low of Rs. 494.80 and Rs. 454.90 respectively. So far 4,508 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 614.85 on 19-Aug-2014 and a 52 week low of Rs. 385.20 on 27-Mar-2015.
Last one week high and low of the scrip stood at Rs. 505.00 and Rs. 425.10 respectively. The current market cap of the company is Rs. 3,750.00 crore.
The promoters holding in the company stood at 62.90% while Institutions and Non-Institutions held 18.77% and 18.33% respectively.
Birla Corporation has agreed to a transaction with Lafarge India, whereby Birla Corp, either directly or through its wholly owned subsidiary, shall acquire both the Jojobera and Sonadih cement businesses from Lafarge India for an Enterprise Value of Rs 5,000 crore. The transaction would be funded through existing cash reserves and incremental debt, and is subject to approval of Competition Commission of India and other relevant regulatory approvals.
Under this transaction, Birla Corp will acquire the business, which comprises of an integrated cement unit at Sonadih (Chhattisgarh), a cement grinding unit at Jojobera (Jharkhand), along with Concreto and PSC brands and an excellent management team. The business has a cement capacity of - 5.15 million tonnes per annum (mtpa), with mineral rights over adequate reserves of limestone. The business has a demonstrated track record of operational and commercial excellence with profitability amongst the highest in the industry aided by raw material linkages, strong distribution networks and excellent brand loyalty in the attractive Eastern India cement market.
Upon completion of this transaction, Birla Corp will consolidate its position in the Eastern India cement market where demand supply scenario and outlook continue to remain buoyant. KRISCORE Financial Advisors and SBI Capital Markets were financial advisors and Nishith Desai Associates acted as counsel to Birla Corp for this transaction.
| 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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