Jaypee Group exits cement, sells biz to Dalmia Bharat
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.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
“The minor weakness with range-bound action continued in Nifty on Tuesday and the market closed the day lower by 58 points amidst volatility. After opening on a negative note, the market shifted into a narrow range movement which continued for the whole session. The opening downside gap remains partially filled,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said.
Adani group said to be in talks for Jaiprakash’s Cement unit for $606 million
The ports-to-power conglomerate could pay about 50 billion rupees ($606 million) for a cement grinding unit and other smaller assets, one of the people said, asking not to be identified as the information is private.