UltraTech, Century Textiles lose in trade post merger deal
Updated : May 21, 2018 03:40 PM IST
UltraTech Cement stock is currently the top Nifty gainer while Century Textile is losing more than 5% in trade post the deal.
UltraTech Cements said it will merge the cement business of Century Textiles and Industries Limited with its own, having an enterprise value of Rs 8,600 crore.
UltraTech will get 11.2 million tonne of integrated cement worth $ 106 per tonne and 2 million tonne of grinding capacity valued at $ 40 per tonne of Century’s cement business.
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