Birla Corp acquires Reliance's cement business
Birla Corporation has completed the acquisition of Anil Ambani-owned Reliance Infrastructure's cement business for a valuation of about ₹4,800 crore. This will boost the former's cement production by around one-and-a-half times. RInfra selling off its cement business is being seen as a move to improve its financial health, whose consolidated debt stood at ₹25,800 crore last fiscal, analysts said.