Nomura ups Dalmia Bharat target price by 48%, maintains 'buy' rating
Dalmia's acquisition of Jaiprakash Associates Limited's assets has faced delays, despite being announced over a year ago. The main hurdle seems to be the lack of approval from lenders, with more than 30 banks involved. Nomura Research sees National Asset Reconstruction Company Ltd (NARCL)'s bid as positive progress and anticipates the deal closing in the second half of FY25.16-04-2024