In a politically significant development ahead of Telangana's local body elections, Labour Minister Dr G Vivek’s faction suffered a blow after their candidate lost to the cousin of rival MLA K Premsagar Rao in Orient Cement’s trade union polls.
OCC, founded by the CK Birla Group in Devapur village 42 years ago, was acquired by Adani Cement for an equity value of Rs. 8,100 crore in October. The transaction is set to be completed within the next three to four months, after which the management of the cement company will transition to Adani Cement.