- In the recently held Global Investors Summit in Madhya Pradesh, J.P. Gaur of diversified firm Jaiprakash Associates Ltd promised an investment of Rs.35,000 crore and also offered to develop Rewa as a smart city.
- Aditya Birla group firm Ultratech Cement is believed to be looking at possible acquisition of Jaypee Group's three cement plants in Madhya Pradesh in a deal that could be worth about Rs.5,500-6,000 crore.
- In a recent interview, Mr.Deepak Narang, ED, UBI, said, that their loan account with J P Associates Ltd: "As of now is standard. Once we are able to sell their assets we will be able to get back our money. We have already demanded money from them. We have raised an issue". This means anyhow, the next round of stake sell would happen.
- The company also recently said in regards to the news report appearing in a financial daily, titled, "Jaypee may sell Bhilai unit to Shree cement": While on the subject we may add here that, as already announced on various occasions, with a view of enhance the stakeholders' value, the Company has its firm resolve to reduce its debt including through disposal of some of its assets/investments.
- Meanwhile, last month while addressing the gathering, elangana Retired Engineers Forum (TREF) general secretary Mereddy Shyamprasad Reddy appealed to Chief Minister K. Chandrasekhar Rao to release funds required to complete 44 km. long SLBC tunnel project. He said the Rs.1,920 crore worth project tenders were bagged by Jaiprakash Associates Limited in 2005 but the works were stalled as the engineering firm is demanding payments according to the increased expenditures besides sanctioning of some pending bills. Mr. Reddy said though the Jaiprakash Associates had agreed to complete the project by 2010, it was delayed because the successive Seemandhra rules delayed payments to the project intentionally. About Rs.1,150 crore have already have been paid to the contractor, he said. Another positive development in case of J P Associates Ltd.
The shares of the J P Associates Ltd (Rs.30.10) which broke out of the earlier trend on last Friday, after a long consolidation phase is likely to move up vertically from here and reach Rs.55-60 in the medium term.