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Jaiprakash Associates surges on the buzz of plan to sell Bhilai Cement unit

17 Oct 2014 Evaluate

Jaiprakash Associates is currently trading at Rs. 29.30, up by 0.55 points or 1.91% from its previous closing of Rs. 28.75 on the BSE.

The scrip opened at Rs. 29.10 and has touched a high and low of Rs. 29.75 and Rs. 29.10 respectively. So far 1068454 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 89.85 on 11-Jun-2014 and a 52 week low of Rs. 24.05 on 25-Sep-2014.

Last one week high and low of the scrip stood at Rs. 30.80 and Rs. 28.30 respectively. The current market cap of the company is Rs. 7127.10 crore.

The promoters holding in the company stood at 45.07% while Institutions and Non-Institutions held 38.87% and 16.06% respectively.

In a bid to trim debt of Rs 60,000 crore by disposing off assets, Jaiprakash Associates is reportedly in talks with Shree Cement to sell its 2.1 million tonne Bhilai Cement unit for Rs 1,800 crore. The negotiation with Shree Cement is at an advanced stage and the deal is likely to be completed by October.

Jaiprakash owns a 74 percent stake in Bhilai Cement, with the rest held by state-run Steel Authority of India (SAIL). The cement unit, with yearly revenue of about Rs 800 crore, has debt of Rs 600 crore. After adjusting for this, the equity value of the deal would be between Rs 1,100 and 1,200 crore.

Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.

JP Associate Share Price

2.41 0.00 (0.00%)
17-Mar-2026 16:59 View Price Chart
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