Beer maker United Breweries surged 19.20% to Rs 999.40. The stock topped the gainers in the BSE's 'A' group. The stock hit a record high of Rs 1,006.10 in intraday today, 4 December 2012.
Power generation firm Jaiprakash Power Ventures spurted 9.77% to Rs 43.25. The stock was second biggest gainer in 'A' group. The company's parent firm, Jaiprakash Associates (JAL), announced after market hours on Monday, 3 December 2012, that the Government of India, Ministry of Environment and Forest has approved the second stage (final) forest clearance to Amelia (North) Coal Block in Sidhi District of Madhya Pradesh by granting its approval under Section 2 of the Forest (Conservation) Act, 1980, for diversion of 728.750 hectares of forest land for coal mining.
JAL had entered into a joint venture agreement with Madhya Pradesh State Mining Corporation for coal mining at Amelia (North) Coal Block. For this purpose, JAL had incorporated a special purpose vehicle, namely, Madhya Pradesh Jaypee Minerals.
JAL said the produce from Amelia mine is committed to be supplied to Jaypee Nigric Super Thermal Power Project, which is being implemented by Jaiprakash Power Ventures.
Fertilizers and chemicals maker Tata Chemicals jumped 5.19% to Rs 352.40. The stock was third biggest gainer in 'A' group.
Media company Zee Entertainment Enterprises climbed 4.50% to Rs 209.15. The stock was fourth biggest gainer in 'A' group. The stock hit a 52-week high of Rs 211.25 in intraday today, 4 December 2012.
Infrastructure company Jaiprakash Associates rose 4.47% to Rs 101.70. The stock was fifth biggest gainer in 'A' group. The stock hit a 52-week high of Rs 102.15 in intraday today, 4 December 2012.
JAL clarified after market hours on Monday, 3 December 2012, that its cement plant in Gujarat was hived off to its wholly-owned subsidiary (WOS), Jaypee Cement Corporation (JCCL), through Scheme of Arrangement, which was sanctioned by the Allahabad High Court on 9 April 2012.
On implementation of the scheme, the said Gujarat Cement Plant stood vested in JCCL who have been looking into various options to unlock the value for their shareholders, as per the objects of the said Scheme and have confirmed to JAL that they have so far not signed any Binding Agreement. Jaiprakash Associates made the statement in reference to media reports that UltraTech Cement was in talks to acquire the Gujarat Cement unit of JAL.
Meanwhile, UltraTech Cement clarified after market hours on Monday, 3 December 2012, that the news item is purely based on market speculation and the company does not comment on market speculation. The company has not issued any press release on the subject, UltraTech Cement said in clarification to media reports of the company being in talks to acquire the Gujarat cement unit of JAL.
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