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ACC surges on plan to buy Jaiprakash Associates’ stake in cement JV with SAIL

24 Mar 2014

ACC is currently trading at Rs. 1283.45, up by 16.75 points or 1.32 % from its previous closing of Rs. 1266.70 on the BSE.

The scrip opened at Rs. 1244.10 and has touched a high and low of Rs. 1294.00 and Rs. 1244.10 respectively. So far 36328 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1292.00 on 18-Jul-2013 and a 52 week low of Rs. 912.05 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1291.50 and Rs. 1245.55 respectively. The current market cap of the company is Rs. 24185.36 crore.

The promoters holding in the company stood at 50.30 % while Institutions and Non-Institutions held 32.90 % and 16.80 % respectively.

ACC is likely to buy Jaiprakash Associates’ 74% stake in two separate cement joint ventures (JV) with state-owned steel maker Steel Authority of India (SAIL). In this regards, Holcim-owned ACC is in talks with the debt-ridden Jaiprakash for quite sometime and an announcement is likely to be made on March 24, 2014.

The two cement joint ventures with SAIL located at Bhilai (Chhattisgarh) and Bokaro (Jharkhand) with a total capacity of a little over 4 million tonnes per annum (mtpa).

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

ACC Share Price

2364.85 31.10 (1.33%) Sep 22, 18:01
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