Following local press reports, HeidelbergCement has said it is not buying Lafarge’s assets in eastern India.

The Bombay Stock Exchange had sought clarification from HeidelbergCement India Ltd with regard to a news article that appeared in the The Financial Express yesterday titled: "Heidelberg likely to acquire Lafarges eastern India units."

HeidelbergCement India Ltd replied stating: "Kindly note that HeidelbergCement India Limited is not considering any such proposal at the moment."

JP Morgan comments: "We think this should come as a slight relief to the market, given the current concern around the Indian over capacity situation and HEI’s stated strategy to focus on shareholder cash return."