Dalmia Bharat rises as its arm inks pact to acquire 26% stake in Truere Surya
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Dalmia Bharat is currently trading at Rs. 1918.10, up by 4.25 points or 0.22% from its previous closing of Rs. 1913.85 on the BSE.
The scrip opened at Rs. 1904.35 and has touched a high and low of Rs. 1927.70 and Rs. 1899.60 respectively. So far 5688 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2428.85 on 14-Dec-2023 and a 52 week low of Rs. 1664.20 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 1939.25 and Rs. 1821.25 respectively. The current market cap of the company is Rs. 35990.39 crore.
The promoters holding in the company stood at 55.84%, while Institutions and Non-Institutions held 23.17% and 20.99% respectively.
Dalmia Bharat’s wholly owned subsidiary -- Dalmia Cement (Bharat) has entered into Share Subscription and Shareholders agreement (SSSHA) on September 3, 2024, to acquire 26% of equity share capital of Truere Surya, consisting of 4,48,00,000 equity shares aggregating to Rs 44.80 crore in one or more tranches to source solar power as a captive consumer for a capacity upto 128 MW located in the State of Tamil Nadu. The transaction is subject to customary conditions precedents and expected to be completed within 4-6 Months.
In order to enhance its source of renewable power supply to achieve group’s commitment towards RE 100 by 2030 and carbon negative by 2040. The renewal power (solar) will qualify as captive consumer under the Electricity Act/ Rules.
Dalmia Bharat has emerged as one of the most respected cement manufacturers in India, contributing to nation-building through adequate capacity creation, consistently high quality standards and value-added products.
