JP Associates surges on buzz of plan to sell stake in Cement Plant to Ultratech

22 Aug 2013

Jaiprakash Associates is currently trading at Rs 32.50, up by 2.15 points or 7.08% from its previous closing of Rs 30.35 on the BSE.

The scrip opened at Rs 30.00 and has touched a high and low of Rs 32.90 and Rs 29.65 respectively. So far 3517195 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 28.40 on 19-Aug-2013.

Last one week high and low of the scrip stood at Rs 34.15 and Rs 28.40 respectively. The current market cap of the company is Rs 7200.93 crore.

The promoters holding in the company stood at 45.12% while Institutions and Non-Institutions held 35.78% and 19.09% respectively.

Jaiprakash Associates (JP Associates) is reportedly in the final stage of talks with Ultratech cement to sell stake in its 4.8 million tonne Cement Plant in Gujarat. The deal value will be around Rs 3700 crore, which will help the company bring down its debt. The company’s total consolidated debt stands at over Rs 63,000 crore. Moreover, the deal would value company’s cement plant at EV/Tonne of $128.

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.

Related Jaiprakash Associates Ltd. Links:

JP Associate Share Price

4.00 0.00 (0.00%) Aug 10, 18:01
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 3970.00
ACC 1399.60
Shree Cement 22388.95
Ambuja Cement 221.65
JP Associate 4.00
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Sensex vs JP Associate
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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