Jaiprakash Associates trades in the green on the bourses

19 Jul 2012

Jaiprakash Associates is currently trading at Rs. 77.30, up by 0.60 points or 0.78% from its previous closing of Rs. 76.70 on the BSE.

The scrip opened at Rs. 78.05 and has touched a high and low of Rs. 78.55 and Rs. 76.85 respectively. So far 819628 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 88.90 on 03-Apr-2012 and a 52 week low of Rs. 50.45 on 09-Jan-2012.

Last one week high and low of the scrip stood at Rs. 79.15 and Rs. 74.80 respectively. The current market cap of the company is Rs. 16437.33 crore.

The promoters holding in the company stood at 46.72% while Institutions and Non-Institutions held 33.40% and 19.88% respectively.

CRH Plc, an Irish diversified building materials company is planning to buy Jaiprakash Associates' cement plants in Gujarat and Andhra Pradesh, as mentioned in some media reports. The deal if finalized is expected to fetch Jaiprakash Associates a sum of Rs 8,000-9,000 crore, which could be utilized towards reduction of  its total consolidated debt of about Rs 45,000 crore.  Further, it has been reported that both the parties would meet in the last week of this month to finalize the transaction.

CRH plc, which has a primary listing on the London Stock Exchange (LSE), is an Irish diversified building materials company, which manufactures and distributes building material products from the fundamentals of heavy materials and elements to construct the frame, through exterior products that complete the building envelope, to distribution channels, which service construction fit-out and renewal.

Jaiprakash Associates, in last year, divested its cement units in Gujarat and Andhra Pradesh into a separate company, Jaypee Cement, in order to monetize a part of its investments to help the parent company reduce its debt. Jaypee group’s cement division, currently operates modern, computerized process control cement plants with an aggregate capacity of 21.3 MTPA.

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