JP Associates is currently trading at Rs. 7.18, up by 0.45 points or 6.69% from its previous closing of Rs. 6.73 on the BSE.
The scrip opened at Rs. 7.00 and has touched a high and low of Rs. 7.26 and Rs. 6.88 respectively. So far 4970685 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 29.40 on 05-Mar-2015 and a 52 week low of Rs. 6.45 on 12-Feb-2016.
Last one week high and low of the scrip stood at Rs. 7.26 and Rs. 6.54 respectively. The current market cap of the company is Rs. 1741.64 crore.
The promoters holding in the company stood at 39.38% while Institutions and Non-Institutions held 31.82% and 28.80% respectively.
Jaiprakash Associates (JP Associates) will be selling its cement plant to UltraTech Cement whereby Ultratech is all set to acquire 18.40 million tonne per annum (mtpa) of cement capacity from JP Associates for an enterprise value of Rs 16,500 crore. UltratTech will invest an additional Rs 470 crore to complete an ongoing project to set up 4 mtpa of grinding units. The deal will catapult UltraTech’s capacity to 90.7 mtpa from the current 68.3 mtpa, making it one of the top cement producers in the world. The transaction is subject to definitive agreements and regulatory approvals.
Kumar Mangalam Birla-owned company will acquire the cement plants with a total capacity of 22.4 mtpa in Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement.