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JP Associates shines and sparkles

29 Feb 2016 at 09:59

JP Associates is currently the top gainer on the BS, up almost 7% at Rs.7.25 with volumes jumping up over one time.
The stock is in the limelight following its announcement yesterday that UltraTech Cement has acquired its cement plants and grinder unit for around Rs.17,000 crore. The
cement plants have a capacity of 22.4 MTPA and are located all across India. Post this acquisition, UltraTechs cement capacity will go up to 90.7 mtpa from the current 68
mtpa.
The JP group currently is sitting on a debt of around Rs.60,000 crore and all the money raised by selling assets will be used to bring down debt. JP Associates h
(standalone) debt is at Rs.31,000 crore and after this sale, its debt will come down to around Rs.14,000 crore.

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