BOM:542216

Dalmia Bharat Arm Begins Commercial Production at Chunar, India Unit

Dalmia Cement (Bharat), a wholly-owned subsidiary of Dalmia Bharat (NSE:DALBHARAT, BOM:542216) commenced commercial production at a recently acquired plant in Chunar in Uttar Pradesh, India, according to a Sunday filing to the Indian stock exchanges.The new unit has a cement grinding capacity of 2.5 million tons per annum.In May, the company acquired cement plants in Rewa, Madhya Pradesh; Churk, Chunar, and Sadwa in Uttar Pradesh, from Jaiprakash Associates (NSE:JPASSOCIAT, BOM:532532) for 28.50 billion Indian rupees. These plants have a combined 5.2 MTPA cement capacity and 3.3 MTPA clinker capacity.

Jefferies Adjusts Dalmia Bharat's Price Target to INR2,445 from INR2,500, Keeps at Buy