At the close, Nifty ended above 18,200. Among sectoral indices, Nifty PSU Bank, Nifty Pharma and Nifty IT gained the most, while stocks from the metal, media and auto pack posted the maximum losses.

Dalmia Bharat, incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 34869.17 Crore) operating in Cement sector.

The company has acquired Jaiprakash Associates’ cement assets for enterprise value/ tonne of $73/ tonne – the cheapest preliminary valuation witnessed in nearly five years

Enterprise value less than previous deals in the cement sector, will take Dalmia closer to the goal of becoming a pan-India player, say research houses

Following the development, brokerage firm Jefferies said, "If the acquisition fructifies, it will enable Dalmia to expand its footprint into the Central Region and add one more region to its vision of emerging as a pan India cement player. Deal timelines, additional required capex, limestone reserves are key for the company.”

The assets put together have a cement manufacturing capacity of 9.4 million tonnes per annum (MTPA), including clinker capacity of 6.7 million tonnes and thermal power plants of 280 megawatts and are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.

Consolidation is the driving feature of Indias property, said Nuvama Institutional Equities. "We believe buoyancy in sales would sustain driven by pick-up in launches, aided by cash flow improvement, diversification and market share gains."

The board of directors of Jaiprakash Power Ventures has approved the divestment of company's Nigrie Cement Grinding Unit as well as other non- core assets.

Jaiprakash Power Ventures said its board will be apprised regarding the proposal of "divestment of Nigrie Cement Grinding Unit" and to "review the progress made in the reduction of company's debt".

The largest account on the list is Srei Equipment Finance with an outstanding loan of Rs 22,485 crore. The list also includes Srei Infrastructure Finance (Rs 10,330 crore outstanding), Future Retail (Rs 10,700 crore), Future Entertainment (Rs 5,800 crore), Future Lifestyles Fashions (Rs 1,781 crore), Future Supply Chain Solutions (Rs310 crore), and Future Consumers (Rs 281 crore).

The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russias war in Ukraine disrupted an already tight supply-demand balance.

The UP-based 3 million tonne plant was part of the Rs 16,189-crore acquisition of six integrated cement plants and five grinding units with a capacity of 21.2 million tonnes of the Jaypee Group by UltraTech , which was completed in 2017. These acquisitions were part of a banks-led restructuring plan for the Jaypee Group.

The Delhi-based Principal bench of the tribunal, comprising Acting President Bhaskara Pantula Mohan and Member Sumita Purkayastha said it will hear all the applications filed in the matter one by one, supporting Suraksha group's bid or dissenting with it.

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The land, which also has the Formula One (F1) race track, was allotted to Jaypee Sports International Ltd (JPSI), a subsidiary of Jaypee Group, in 2008. “The company will have to deposit 10% of the current value of the land as restoration charges,” said Arun Vir Singh, CEO of Yeida.

Its total expenses were at Rs 2,212.43 crore, down 4.76 per cent in Q4/FY 2020-21 as against Rs 2,322.95 crore a year ago.

The S&P BSE Sensex index plunged as much as 604.26 points to hit 51,740.19 in the first few minutes of trade.

Info Edge, Oil India, Bharat Dynamics, TCNS Clothing, Jaiprakash Associates and VST Tillers Tractors will announce their March quarter results today.

The RBI had recommended Jaiprakash Associates for insolvency resolution in its second list of companies that was sent to lenders in 2017.

Moreover, home buyers who constitute a majority of the debt are unlikely to support a bid from the very builder which delayed the construction in the first place people familiar with the negotiations said. This offer is too little too late and must not be given importance, they said.

A Committee of Creditors (CoC) met on Saturday to discuss the revised bids of state-owned NBCC and Suraksha group for acquiring Jaypee Infratech through the insolvency process.

On Wednesday, UP RERA held a meeting with Uppal Chadha Hi-Tech developers pvt ltd, Paramount Propbuild pvt ltd, Jaiprakash Associates Limited, and JKG construction pvt ltd to discuss order compliances and separate project account.

Total income declined to Rs 1,140.99 crore for the first quarter of the current financial year, from Rs 1,778.91 crore a year ago.

Total promoter and promoter group shareholding in Alembic stood at 67.62 percent, including Nirayu's 59.80 percent as of March 31

Jaypee group, which is into construction, cement, power, real estate, hotel and hospital businesses, has been facing crisis in the last few years due to defaults in debt repayments and huge delays in completion of housing projects in Noida and Greater Noida.

In the last five consecutive sessions of losses, investors have become poorer by Rs 6.31 lakh crore.

Tata Chemicals | Adhunik Metaliks | Shree Cement | Yes Bank | Oil India | SBI and Balkrishna Industries are stocks which are in the news today.

Total income declined to Rs 2,119.63 crore in the third quarter of this fiscal year from Rs 2,583.62 crore in the corresponding period of the previous year.

The index is just 25 points away from turning negative for the year 2019, and has fallen 4,219 points or little over 10 percent from its record high of 40,312 registered in June 2019.