Hot Pursuit     04-Jan-23
Orient Cement spurts on buzz Adani Group may buy stake
Orient Cement surged 9.48% to Rs 145 after the media reported that Adani Group is in talks to buy promoter stake in the cement maker.
According to the media reports, the Adani Group is in talks with the promoter of C.K. Birla Group-owned Orient Cement to acquire a stake in the company. The owners of Orient Cement could explore divesting part of their stake to fund the company's growth plans. Money from the stake sale could also be used to fund the restructured long-term debt, reports added.

BSE has sought clarification from Orient Cement. The reply is awaited.

As on 30 September 2022, the promoter stake in Orient Cement stood at 37.9% split between 17 entities.

Orient Cement is part of the CK Birla Grop. It reported net loss of Rs 9.50 crore in Q2 September 2022 as against net profit of Rs 56.88 crore in Q2 September 2021. Net sales rose 0.35% to Rs 615.28 crore in Q2 September 2022 over Q2 September 2021.

Previous News
  Orient Cement standalone net profit rises 63.35% in the September 2021 quarter
 ( Results - Announcements 26-Oct-21   07:58 )
  Orient Cement hardens on buzz CK Birla approaches Gautam Adani for stake sale
 ( Hot Pursuit - 18-Oct-23   11:07 )
  Orient Cement schedules board meeting
 ( Corporate News - 19-Oct-22   18:08 )
  Orient Cement to hold board meeting
 ( Corporate News - 18-Jul-23   09:58 )
  Orient Cement reports standalone net loss of Rs 7.70 crore in the September 2019 quarter
 ( Results - Announcements 22-Oct-19   11:25 )
  Orient Cement reports standalone net loss of Rs 17.67 crore in the December 2017 quarter
 ( Results - Announcements 29-Jan-18   16:33 )
  Orient Cement standalone net profit declines 58.84% in the June 2018 quarter
 ( Results - Announcements 02-Aug-18   16:06 )
  Orient Cement acquires 28.52% stake in Ardeur Renewables
 ( Corporate News - 29-Jun-24   10:43 )
  Board of Orient Cement recommends interim dividend
 ( Corporate News - 06-Feb-24   11:04 )
  Orient Cement standalone net profit rises 126.64% in the March 2021 quarter
 ( Results - Announcements 18-May-21   07:40 )
  Orient Cement Ltd leads gainers in 'A' group
 ( Hot Pursuit - 18-Oct-23   12:00 )
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