Comments
Sagar Cements Ltd will acquire BMM Cements Ltd, which has a one million tonne capacity plant at Gudipadu near Tadipatri in Anantapur district of Andhra Pradesh.
The board of directors of the Hyderabad-based company at its meeting held on Thursday gave in-principle approval for the acquisition, according to a release issued here on Friday.
The company, which has an enterprise value of Rs 540 crore, has limestone reserves of around 155 million tonnes, besides a captive power plant of 25 MW.
Sagar Cements’ scrip lost 4.41 per cent on the BSE on Friday and was trading at Rs 325 in the afternoon session.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.