Reliance Infra subsidiary in talk to buy cement co; stocks up
Reliance Cementation, a 100 per cent subsidiary of Reliance Infrastructure, has started negotiations to acquire Sree Jayajothi Cements.
By ET Bureau | Updated:
MUMBAI: Reliance Cementation, a 100 per cent subsidiary of Reliance Infrastructure, has started negotiations to acquire Tamil Nadu-based Sree Jayajothi Cements, valued at about Rs 2,000 crore.
Reliance Cementation has been in talks with Jayajothi Group to acquire its cement business which has 3.2 million tonnes per annum (mtpa) installed cement making capacity now.
Shares of Reliance Infrastructure were at Rs 685, up 0.23 per cent on the BSE. It touched a high of Rs 686.95 and low of Rs 673 in trade so far.
Reliance Cementation has been in talks with Jayajothi Group to acquire its cement business which has 3.2 million tonnes per annum (mtpa) installed cement making capacity now.
Shares of Reliance Infrastructure were at Rs 685, up 0.23 per cent on the BSE. It touched a high of Rs 686.95 and low of Rs 673 in trade so far.
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