M P Birla Group company Birla Corporation invests Rs 100 crore in Reliance Cement

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Kolkata | Published: February 9, 2017 3:14:55 AM

M P Birla Group company Birla Corporation on Wednesday said it invested R100 crore in Reliance Cement Company Private (RCCPL), which became its wholly-owned subsidiary from August last year, during December quarter this fiscal.

The company further said the ongoing efforts to integrate the subsidiary's operations with it and realise synergy benefits have already started yielding benefits. (PTI)The company further said the ongoing efforts to integrate the subsidiary?s operations with it and realise synergy benefits have already started yielding benefits. (PTI)

M P Birla Group company Birla Corporation on Wednesday said it invested R100 crore in Reliance Cement Company Private (RCCPL), which became its wholly-owned subsidiary from August last year, during December quarter this fiscal. The company further said the ongoing efforts to integrate the subsidiary’s operations with it and realise synergy benefits have already started yielding benefits.

Birla Corporation had acquired 100% equity shares of RCCPL (Reliance Cement) from Anil Ambani-led Reliance Infrastructure for an enterprise valuation of about R4,800 crore. It has started the exercise of re-branding of the Reliance Perfect Cement brand as MP Birla Perfect Cement.

The entirely new cement brand, MP Birla Perfect Cement, was launched last month in the fast-growing Central India market. “The campaign has been well received in the markets,” the company said in a release.

 

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