Coal news and updates

KKR, UltraTech & Dalmia in race to acquire Jaypee’s cement business

US buyout firm KKR and Ultra-Tech, are in the race to acquire cement division of Jaiprakash Associates, according to reports.

Report says that each of the non-binding bids has put enterprise value in excess of Rs 18,000 crore.

The suitors are expected to enter into separate agreements to initiate due diligence that will be completed in the next four weeks, says report.
 

UltraTech Cement Ltd ended at Rs. 2918.55, up by Rs. 78.25 or 2.75% from its previous closing of Rs. 2840.3 on the BSE.

The scrip opened at Rs. 2850 and touched a high and low of Rs. 2927 and Rs. 2850 respectively. A total of 309088(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 80092.86 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 3399 on 04-Mar-2015 and a 52 week low of Rs. 2530.8 on 07-May-2015. Last one week high and low of the scrip stood at Rs. 2927 and Rs. 2741.55 respectively.

The promoters holding in the company stood at 62.77 % while Institutions and Non-Institutions held 26.05 % and 11.19 % respectively.

India Infoline