The Board of Directors of Jaiprakash Associates Limited (JAL) has approved the Definitive Agreement with UltraTech Cement Limited
Jaiprakash Associates Ltd stock was up 3% at Rs. 7.89. The Board of Directors of Jaiprakash Associates Limited (JAL) has approved the Definitive Agreement with UltraTech Cement Limited for sale of part of its cement business comprising identified operating cement plants with an aggregate capacity of 17.20 MTPA spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh besides a grinding unit of 4.0 MTPA capacity which is currently under implementation in Uttar Pradesh.
Both the parties have mutually agreed to exclude the Shahabad plant in Karnataka from the transaction. The total Enterprise Value is Rs.15,900 Crores. An additional amount of Rs. 470 crores shall be paid by UTCL for completion of the Grinding Unit under implementation.
Both the parties have mutually agreed to exclude the Shahabad plant in Karnataka from the transaction. The total Enterprise Value is Rs.15,900 Crores. An additional amount of Rs. 470 crores shall be paid by UTCL for completion of the Grinding Unit under implementation.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 26.7 on 10-Apr-2015 and a 52 week low of Rs. 6.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 7.75 and Rs. 6.96 respectively.
The promoters holding in the company stood at 39.38 % while Institutions and Non-Institutions held 31.82 % and 28.8 % respectively.
The stock is currently trading above its 200 DMA
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