Shares Of Jaiprakash Associates Gain Over 6%
Advertisement
The shares of Jaiprakash Associates Ltd jumped 6.1% following the signing of a memorandum of understanding (MoU) with UltraTech Cement, according to which, the latter will buy two cement plants of Jaiprakash Associates in Madhya Pradesh.
The MoU is one of the many steps that theJaypee Group has been taking to reduce debt, which was Rs 65,000 crore as on March 31, 2014. According to media estimates, the debt would now come down to about Rs 44,000 crore after the MoU implemented.
The shares of UltraTech Cement were 2.7% higher at Rs 2610. As per report in The Economic Times, theAditya Birla Group company is likely to sign a ‘definitive agreement’ after finalising a ‘due diligence process,’ which is expected to commence shortly.
According to a press release issued by UltraTech Cement, the total enterprise valuation of the transaction, which includes debt, is Rs 5,400 crore.
Advertisement
Advertisement
The MoU is one of the many steps that the
The shares of UltraTech Cement were 2.7% higher at Rs 2610. As per report in The Economic Times, the
According to a press release issued by UltraTech Cement, the total enterprise valuation of the transaction, which includes debt, is Rs 5,400 crore.
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings
- FPIs make remarkable comeback, infuse ₹2 lakh cr in FY24
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study