India's Dalmia Bharat firms on deal to buy cement assets

Jaiprakash Associates

12/12/2022 10:25

** Shares of Indian cement manufacturer Dalmia Bharat Ltd
 DALB.NS  close up 3.19% at 1906.30 rupees
    ** Stock notches biggest one-day gain since Dec. 1
    ** DALB to buy Jaiprakash Associate's  JAIA.NS  cement,
clinker and power plants for an enterprise value of 56.66 bln
rupees, incl debt (~$687 mln)  urn:newsml:reuters.com:*:nL4N3321QP
    ** About 5,72,587 shares changed hands, 1.8x the 30-day avg
of 3,27,857, as of 3:27 p.m.
 
 ($1 = 82.5210 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))