The board has accorded its in principle approval for the merger of Amareswari Cements Ltd, belonging to its promoter group, with Sagar Cements Ltd and to appoint necessary agencies like independent valuers, merchant bankers etc., for the purpose. This merger is subject to various statutory and other approvals and the formalities required to be complied with in connection there with. The Board has also decided to divest Sagar Cement's stake in its subsidiary, Sagar Power Limited to enable the former to focus attention on its core area viz., manufacture of cement.