As per a news report Century Textile may carve out its cement business and merge it with Kumar Mangalam Birla led UltraTech cement in an all-share deal.
Analysts say the deal will help Century Textile to become debt-free as it had taken loans to expand capacity in the cement unit.
Century Textile has total cement capacity of 12.8 million tonnes (MT). The deal value is estimated at Rs 10,500 crore which value the cement unit at $132/tonne, the report said.
Shares of Century Textile closed 2.48 per cent higher at Rs 732.55 apiece, outperforming the broader Nifty, which ended 0.62 per cent higher.