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UltraTech Cement has moved higher by 2.6% to Rs 3,110, extending its 9% rally in the past four days on the BSE, on plans to acquire Jaiprakash Associates' Bhilai plant.
The Manoj Gaur-promoted Jaypee Group company Jaiprakash Associates is in talks with Aditya Birla Group flagship UltraTech Cement to sell its 2.2-million-tonne cement plant in Bhilai in the state of Chhattisgarh, a Business Standard report suggests.
If the deal succeeds, this would be the third plant India’s largest cement maker UltraTech would be buying from the Jaypee Group in about a year and a half, the report added. CLICK HERE TO READ FULL REPORT.
Meanwhile, shares of all three listed companies of Jaypee Group were trading at 52-week lows on the BSE. Jaiprakash Associates, down 2% at Rs 18.10, was trading at 52-week lows on the BSE. Jaypee Infratech and Jaiprakash Power Venture, down 1% each at Rs 15.10 and Rs 7.27 respectively, were trading at lifetime lows on the BSE.
The Manoj Gaur-promoted Jaypee Group company Jaiprakash Associates is in talks with Aditya Birla Group flagship UltraTech Cement to sell its 2.2-million-tonne cement plant in Bhilai in the state of Chhattisgarh, a Business Standard report suggests.
If the deal succeeds, this would be the third plant India’s largest cement maker UltraTech would be buying from the Jaypee Group in about a year and a half, the report added. CLICK HERE TO READ FULL REPORT.
Meanwhile, shares of all three listed companies of Jaypee Group were trading at 52-week lows on the BSE. Jaiprakash Associates, down 2% at Rs 18.10, was trading at 52-week lows on the BSE. Jaypee Infratech and Jaiprakash Power Venture, down 1% each at Rs 15.10 and Rs 7.27 respectively, were trading at lifetime lows on the BSE.
