Coal news and updates

Dalmia Bharat increases stake in arm to 76.6%

February 25: Cement producer Dalmia Bharat has increased its stake in its subsidiary, OSL India Limited, to 76.6% from the existing 48%, the company said in a statement to the BSE.

It said that as a part of the consolidation and growth of the cement sector, the Dalmia Bharat Group has been strategically acquiring and creating new assets in southern, eastern and north-eastern India.

The company said the move would help in creating better operational synergies across the group’s footprint. It is a step forward in the commitment towards aligning all stakeholders’ interests and overall value creation, the company said.

With acquired capacities, the total greenfield capacity of Dalmia Bharat will be at 24 million tons (mt) in FY16, the statement added.