RHI Magnesita, a leading global supplier of refractory products, systems and services based in the UK, has decided to consolidate its Indian operations under Orient Refractories Limited, seeing significant growth potential for its refractory products and
Budget
RHI Magnesita India Ltd gained over 6 percent on September 7 after the Competition Commission of India (CCI) cleared Rhone Capital's proposed acquisition of a 29.9 per cent stake in RHI Magnesita NV. At 9.20am, the stock was trading at Rs 773 on BSE, up 6.4 percent from its previous close while India's benchmark Sensex fell 0.17 percent to 65767 points. Ignite Luxembourg Holdings, owned by US-based Rhone Capital, has received approval from the CCI for acquiring up to 29.9% of RHI Magnesita NV. RHI Magnesita NV operates through its subsidiary RHI Magnesita India Ltd, specializing in refractories and related products. The CCI overseas such deals to ensure fair competition and prevent unfair business practices.
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