Jaiprakash Associates to sell 74% stake in cement manufacturing unit in Bokaro to Dalmia Cement

25 Mar 2014 Evaluate

Jaiprakash Associates has inked an agreement to sell its 74 per cent stake in a cement manufacturing unit in Bokaro to Dalmia Cement (Bharat) for around Rs 1,150 crore. It will help the company to cut the Rs 60,000 crore debts on its books. The company is planning to trim the debt by Rs 15,000 crore by March end.

Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.

JP Associate Share Price

8.60 -0.18 (-2.05%)
May 18, 14:33 View Price Chart
Peers
Company Name CMP
Ultratech Cement 6233.70
ACC 2236.75
Ambuja Cement 360.40
Shree Cement 22352.95
Dalmia Bharat 1420.00
View more..