Sagar Cements witnessed a rise in share prices on Thursday after the board of directors accorded 'in principle' approval to acquire BMM Cements, having an enterprise value of Rs 5.4 billion. BBM owns a million tonne per annum cement plant with a captive power unit of 25 MW capacity near Tadipatri, Anantapur district, Andhra Pradesh.

Shares of the company are trading at Rs 345, up Rs 5, or 1.47% at the Bombay Stock Exchange (BSE) on Thursday at 9:49 a.m.

The scrip has touched an intra-day high of Rs 354 and low of Rs 345. The total volume of shares traded at the BSE is 269.