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Birla Corp gains over 12% on acquisition plan from Lafarge

By Religare
|

Shares of Birla Corporation rose over 12 per cent on Bombay Stock Exchange (BSE) after the company announced to acquire Jojobera and Sonadih cement businesses from Lafarge India for an enterprise value of Rs 5,000 crore. "The company has agreed to a transaction with Lafarge India Private Limited (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," Birla Corporation said in a statement.

 

Reacting to the news, shares of the company gained 12.51 per cent to Rs 509.60 a piece on BSE.

In a similar trend, shares of the company surged 13.34 per cent to Rs 514 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,648.77, up 136.51 points, or 0.50 per cent at 11.25 hours.

Story first published: Monday, August 17, 2015, 12:30 [IST]
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