Economy & Market
Chettinad Cement ups stake in Anjani Portland to 41%
Anjani Portland shares acquired by Chettinad Cement Chettinad Cement Corporation Ltd (CCCL) recently purchased 20.58% shares of Anjani Portland Cement Ltd from shareholders. The company has acquired 3784.014 shares through off market purchase for a price of Rs.61.75 per share. CCCL based in Chennai, announced its plans to acquire Anjani Portland Cement, based in Andhra Pradesh, in March 2014. The purchase forms part of the company's strategy to increase its presence in the Andhra Pradesh market. Anjani Portland operates two plants in the Nalgonda district, Andhra Pradesh, with a production capacity of 1.2 million tpa, and plans are also in place for the construction of a greenfield unit in Karnataka.