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Dalmia Bharat gains on getting CCI’s nod to acquire 15% stake in Dalmia Cement Bharat

09 Mar 2016 Evaluate

Dalmia Bharat is currently trading at Rs. 720.00, up by 6.50 points or 0.91% from its previous closing of Rs. 713.50 on the BSE.

The scrip opened at Rs. 720.10 and has touched a high and low of Rs. 722.00 and Rs. 706.15 respectively. So far 424 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 885.00 on 01-Jan-2016 and a 52 week low of Rs. 408.00 on 30-Mar-2015.

Last one week high and low of the scrip stood at Rs. 765.00 and Rs. 700.00 respectively. The current market cap of the company is Rs. 5853.12 crore.

The promoters holding in the company stood at 62.74% while Institutions and Non-Institutions held 13.47% and 19.91% respectively.

Dalmia Bharat has received approval from Competition Commission of India (CCI) to acquire 15% stake in its subsidiary Dalmia Cement Bharat from private equity giant KKR for over Rs 1,218 crore in a cash and stock deal.  Post the deal, Dalmia Cement Bharat (DCBL) will become a wholly-owned subsidiary of Dalmia Bharat (DBL).

The deal has earned KKR Mauritius Cement Investment a return of 2.4 times on its investment of Rs 500 crore that it made in September 2010.

DBL provides management services to the group companies belonging to the Dalmia Bharat group, owns intellectual property such as trade names for its group companies and holds shares in the group companies, either on its own or through its subsidiaries, while DCBL is active in the cement manufacturing industry. It is also engaged in the manufacturing of refractories.

 

Peers
Company Name CMP
Ultratech Cement 11911.30
Ambuja Cement 454.50
ACC 1429.55
Shree Cement 25461.55
Dalmia Bharat 1979.45
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