Orient Cement is in the process of acquiring two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms for Rs 1946 crore. The company has signed the definitive agreement with the Jaypee group firms for all cash deals, which are expected to be completed before March 31, 2018. The company is buying 74% share of Bhilai Jaypee Cement from Jaiprakash Associates and its nominee for a total enterprise value of Rs 1,450 crore. Besides, it will also acquire Nigrie Cement Grinding Unit as going concern from Jaiprakash Power Ventures for a total consideration of Rs 496 crore.
Orient Cement has reported a fall of 10.56% in its net profit after tax at Rs 16.52 crore for the quarter ended March 31, 2017 as compared to Rs 18.47 crore for the same quarter in the previous year. However, total income of the company increased by 36.98% at Rs 695.70 crore for quarter under review as compared to Rs 507.88 crore for the quarter ended March 31, 2016.
| 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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