/ JP Associates Proposes To Transfer Cement Plants To Ultratech Stock Up By Nearly 1.5% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 6 March 2017

In what can be termed as a positive development for both JP associates and Ultratech Cements, the National Company Law Tribunal has sanctioned the scheme of arrangement whereby the JP Associates has proposed to transfer identified cement plants and its wholly owned subsidiary Jaypee Cement Corporation to Ultratech on slump exchange basis.

JP associates has retraced from its morning highs of Rs 16.18 per share to currently Rs 15.55 per share.

The stock is up by nearly 2% currently and gained by nearly 6% in the morning session. Ultra tech is trading flat with a positive bias on Monday. Jaiprakash Associates Ltd is currently trading at Rs 15.4, up by Rs 0.15 or 0.98% from its previous closing of Rs 15.25 on the BSE.

The scrip opened at Rs 15.55 and has touched a high and low of Rs 16.15 and Rs 15.4 respectively. So far 52827297(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3709.5 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 16.8 on 01-Mar-2017 and a 52 week low of Rs 5.3 on 02-Jun-2016. Last one week high and low of the scrip stood at Rs 16.8 and Rs 14.75 respectively.

The promoters holding in the company stood at 39.34 % while Institutions and Non-Institutions held 22.01 % and 38.65 % respectively. The stock is currently trading above its 50 DMA.

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