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Meanwhile, Jaiprakash Associates dipped 8 per cent to Rs 10.81, falling 13 per cent from its intra-day high, and Jaiprakash Power Ventures declined 5 per cent to Rs 7.90 on the BSE.
Deal will give buyer entry into high-growth markets of UP and MP, may turn the firm into a net debt company from almost debt free now
Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group
To give thrust to the ongoing efforts of the Company to reduce its debt, the board of directors has decided to divest Company's significant Cement business