After the merger, its three arms — Orient Refractories, RHI Clasil and RHI India — will become a single entity, RHI Magnesita India.

The price at which they changed hands was Rs 311.22 per share.

Firms believe that merging their subsidiaries will enable them to become more efficient.

Sample this. Its return scorecard over the last five years reads a solid 880 per cent.

Its shares ended at Rs 231.85, up 10.85 per cent, on the BSE, after gaining to as much as Rs 248.15 intraday.

All three companies are part of the London Stock Exchange-listed RHI Magnesita, a leading global supplier of high-grade refractory products...

Austrian refractories major, RHI, has picked up 51% stake in Clasil Refractories for an undisclosed price.