The Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, in continuation of its agreement signed on the 31st of March 2016, approved a Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their respective shareholders and creditors (“Scheme”) for acquisition of cement plants for a total capacity of 21.2 mtpa at an enterprise value of Rs 16,189 crs.
Jaypee Group stocks are higher for the second day.
The Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, in continuation of its agreement signed on the 31st of March 2016, approved a Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their respective shareholders and creditors (“Scheme”) for acquisition of cement plants for a total capacity of 21.2 mtpa at an enterprise value of Rs 16,189 crs.
The Proposed Transaction is essentially a “geographic market expansion” which will lead to UltraTech’s entry into growing markets of India, such as the Satna cluster [in Uttar Pradesh (East) and Madhya Pradesh (East)], Himachal Pradesh, Uttarakhand and coastal Andhra Pradesh. The operations will be strengthened by the consequent technological upgradation and enhancement in capacity utilization on a year-on-year basis, creating synergies in manufacturing, distribution and logistics leading to economies of scale and creation of efficiencies by reducing lead time to markets, enhancing competitiveness and thereby benefiting consumers; and creating value for its shareholders by acquiring ready-to-use assets.
Jaypee Infratech Ltd is currently trading at Rs. 11.3, up by Rs. 0.7 or 6.6% from its previous closing of Rs. 10.6 on the BSE.
The scrip opened at Rs. 10.7 and has touched a high and low of Rs. 11.49 and Rs. 10.7 respectively. So far 2611288(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1472.27 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.35 on 10-Jul-2015 and a 52 week low of Rs. 5.34 on 06-Jun-2016. Last one week high and low of the scrip stood at Rs. 10.98 and Rs. 8.5 respectively.
The promoters holding in the company stood at 71.64 % while Institutions and Non-Institutions held 14.62 % and 13.75 % respectively.
The stock is currently trading above its 200 DMA.
Jaiprakash Power Ventures Ltd is currently trading at Rs. 6.01, up by Rs. 0.37 or 6.56% from its previous closing of Rs. 5.64 on the BSE.
The scrip opened at Rs. 5.75 and has touched a high and low of Rs. 6.14 and Rs. 5.75 respectively. So far 2115196(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1657.03 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8.42 on 07-Aug-2015 and a 52 week low of Rs. 3.65 on 02-Jun-2016. Last one week high and low of the scrip stood at Rs. 6.05 and Rs. 4.65 respectively.
The promoters holding in the company stood at 63.6 % while Institutions and Non-Institutions held 9.34 % and 27.06 % respectively.
The stock is currently trading above its 200 DMA.
Jaiprakash Associates Ltd is currently trading at Rs. 12.28, up by Rs. 0.66 or 5.68% from its previous closing of Rs. 11.62 on the BSE.
The scrip opened at Rs. 11.9 and has touched a high and low of Rs. 12.48 and Rs. 11.8 respectively. So far 67265173(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2826.52 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 14.9 on 16-Oct-2015 and a 52 week low of Rs. 5.3 on 02-Jun-2016. Last one week high and low of the scrip stood at Rs. 12.5 and Rs. 7.5 respectively.
The promoters holding in the company stood at 39.38 % while Institutions and Non-Institutions held 27.02 % and 33.59 % respectively.
The stock is currently trading above its 200 DMA.
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