JP Associates soars on buzz of talks with UltraTech for sale of cement units

23 Apr 2013

Jaiprakash Associates is currently trading at Rs 78.55, up by 1.55 points or 2.01% from its previous closing of Rs 77.00 on the BSE.

The scrip opened at Rs 78.00 and has touched a high and low of Rs 80.30 and Rs 77.25 respectively. So far 2178408 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 106.75 on 12-Dec-2012 and a 52 week low of Rs 58.05 on 24-May-2012.

Last one week high and low of the scrip stood at Rs 77.50 and Rs 71.55 respectively. The current market cap of the company is Rs 17464.19 crore.

The promoters holding in the company stood at 44.74% while Institutions and Non-Institutions held 36.73% and 18.53% respectively.

UltraTech Cement is reportedly in final-stage talks with Jaiprakash Associates to buy its 4.8-million-tonne cement plants in Gujarat. The deal may be valued at Rs 4100 crore and is expected to be sealed before May this year.The deal, if accomplished, will strengthen the AdityaBirla Group Company’s grip on the domestic cement market.

 UltraTech Cement reported a fall of 16.27% in its net profit at Rs 726.20 crore for the quarter ended March 31, 2013 as compared to Rs 867.30 crore for the same quarter in the previous year.  However, total income of the company increased marginally by 0.78% at Rs 5572.52 crore for quarter under review as compared to Rs 5529.14 crore for the quarter ended March 31, 2012.

Related Jaiprakash Associates Ltd. Links:

JP Associate Share Price

7.13 0.00 (0.00%) Apr 16, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323