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Jaiprakash Associates jumps on executing definitive agreement with Orient Cement

31 May 2017

Jaiprakash Associates is currently trading at Rs. 12.33, up by 0.56 points or 4.76 % from its previous closing of Rs. 11.77 on the BSE.

The scrip opened at Rs. 12.00 and has touched a high and low of Rs. 12.71 and Rs. 11.87 respectively. So far 11522992 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 16.80 on 01-Mar-2017 and a 52 week low of Rs. 5.30 on 02-Jun-2016.

Last one week high and low of the scrip stood at Rs. 13.15 and Rs. 9.35 respectively. The current market cap of the company is Rs. 2977.33 crore.

The promoters holding in the company stood at 39.34%, while Institutions and Non-Institutions held 24.34% and 36.42% respectively.

JaiPrakash Associate has executed a definitive agreement with Orient Cement (OCL), a part of CK Birla Group. The agreement is for acquisition by OCL of company's 74% equity stake in Bhilai Jaypee Cement (BJCL) based on an enterprise value of Rs 1,450 crore on a cash free and debt free basis.

Jaiprakash Associates is an India-based diversified infrastructure conglomerate. Its business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.

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