Vedanta Ltd arm to acquire Desai Cement Company Pvt Ltd

The Board of Directors of Sesa Mining Corporation Limited ('SMCL'), an indirect wholly owned subsidiary of Vedanta Limited has approved the acquisition of Desai Cement Company Private Limited ('DCCPL').

DCCPL is a cement manufacturing plant which has a facility of Granulated Blast Furnace Slag / Cement - 200 KTPA & Ready-Mix Concrete - 40,000 m3pa. The plant is operational and is located at Maina Village at Goa which is ~1km from Value Added Business of Vedanta Limited.

The acquisition will enhance the Group's portfolio with Cement and help develop additional synergies through vertical integration.

Shares of Vedanta Limited was last trading in BSE at Rs. 312.00 as compared to the previous close of Rs. 310.70. The total number of shares traded during the day was 159227 in over 4083 trades.

The stock hit an intraday high of Rs. 314.00 and intraday low of 310.00. The net turnover during the day was Rs. 49716526.00.

Source : Equity Bulls

Keywords

VedantaLimited INE205A01025 VEDL Acquisition DesaiCement