Dalmia Cement (Bharat) increases stake in OCL India

Dalmia Cement (Bharat) has increased its stake in OCL India from 48% to 74.6% through inter-se transfer within the promoter group of OCL India. That means that the group now holds 48% of its capacity in the south of India and the remaining 52% in the east and northeast. This is in line with the Dalmia Bharat Group’s strategy to acquire new assets in these regions as part of the consolidation and growth of the cement sector.

The company stated that the acquisition would help to create better operational synergies across its footprint and is a step towards further value creation.

In its most recent results, the Group indicated that it was expecting improved cement demand and therefore better capacity utilisation.

Edited from various sources by Katherine Guenioui

Sources:

• My Iris
• Business Standard
• Dalmia Bharat

Read the article online at: https://www.worldcement.com/asia-pacific-rim/25022015/dalmia-cement-bharat-increases-stake-in-ocl-india-402/