Orient Refractories has completed the formalities with regard to acquisition of the entire paid-up equity share capital of Intermetal Engineers India Private Limited to make it a wholly-owned subsidiary of the company. Dr Vijay Sharma, Director, and Parmod Sagar, Managing Director & CEO, of the company have joined the board of IEIPL as nominee directors from May 18. Shares of Orient Refractories gained 1.73 per cent at ₹229.95 on the BSE.

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