J P Associates has jumped 5.4% or Rs 3.5 to Rs 70 on news reports that the company is in talks with Votorantim, Cemex for a minority stake sale.
The company is exploring the option of roping in a strategic partner for its cement business. It is in talks with South America conglomerates such as Cemex and Votorantim Group, who have a global presence.
It has also been diversifying out of its primary north and central Indian markets such as UP, MP and Himachal Pradesh to west and east Indian markets spread across Gujarat and Chhattisgarh.
The stock opened at Rs 67 and is trading at the day's high of Rs 70. As many as 15,24,000 shares have changed hands on the BSE compared to its two-week average of 22,93,000 shares.
