Jaiprakash Associates Ltd: Bullish Pattern is being formed

J P Associates  continues with its plans to pare down debt. Apart from the recent deals, in an earlier move, the company has sold its cement grinding unit in Panipat to  Shree Cements  for a consideration of Rs.360 crore at a valuation of USD 40 per tonne. It is pertinent to mention here that ICICIdirect.com gave a target of Rs.90 for the shares of Jaiprakash Associates  in its May 28, 2014 research report.