Orient Papers to demerge cement business in April 2012

At a time when there is a possibility to see a cement price hike, Orient Papers & Industries is likely to go for a demerger of the cement business. The company has announced the demerged will be effective on April 1, 2012.

"The process of demerge is currently on. We have already received the NSE approval but we are waiting for BSE approval and various other formalities will be in place," says the company's managing director ML Pachisia. In an interview to CNBC-TV18, Pachisia says that now the monsoons are more or less over, the demand for cement is picking up. "There have been some minor changes in the cement price recently. However, nothing major has been done as yet," he added.