Adani Enterprises puts down Jaypee Group cement business acquisition rumours
Adani Enterprises puts down Jaypee Group cement business acquisition rumours
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Adani Enterprises puts down Jaypee Group cement business acquisition rumours
Following the development, shares of Jaiprakash Associates plunged 7.29 per cent to settle at Rs 10.56 on BSE. Adani Enterprises, on the other hand, declined 0.79 per cent to close at Rs 3,208.
JP Associates share price: JP Associates shares have seen wild fluctuations for the past few days after the company decided to divest its cement business.
Adani Group is in advanced talks to buy debt-laden Jaiprakash Associates Ltd's (Jaypee Group’s) cement business for $606 million (Rs 5,000 crore), Bloomberg News reported on Monday, citing sources.
Adani group is in talks to buy the cement businesses of debt-laden Jaypee Group for about Rs 5,000 crore as the conglomerate helmed by the richest Asian consolidates its presence in a sector it entered a few weeks back.