June 30, 2017 11:46 AM IST Ours is Company, which honestly tried to restructure its debt even if that meant parting of precious assets because credibility is more important, said Manoj Gaur, Executive Chairman, JP Associates.
August 31, 2016 08:28 PM IST Competition Commission today imposed more than Rs 6,700 crore penalty on 11 cement companies, including ACC and Binani, for cartelisation.
July 11, 2016 06:21 PM IST Nisha Poddar of CNBC-TV18 was joined by Puneet Dalmia of Dalmia Bharat, Anil Singhvi of Ican Investments Advisors and Vikram Hosangady of KPMG to understand the big deal between JP Associates and UltraTech Cement, and other deals in the offing.
July 05, 2016 09:31 AM IST JP Associates currently has debt of Rs 28,000 crore alongwith Rs 2,000 crore in a subsidiary. The entire sale process will be completed by this year-end, says Rahul Kumar, Director & CFO of JP Associates.
July 05, 2016 09:19 AM IST Reacting to the news, Jaspreet Singh Arora of Systematix Shares and Stocks and Sanjiv Bhasin of IIFL said the deal will largely be positive on UltraTech Cement.
April 01, 2016 08:44 AM IST UltraTech will work to improve JPA's operational efficiency by over 50 percent in a year's time after the deal is consummated, says Atul Daga, CFO of the company.
March 31, 2016 05:56 PM IST Speaking to CNBC-TV18, Atul Dagga, CFO of UltraTech Cement, said the total capacity of the company post the acquisition will go up to 90 mtpa.
March 31, 2016 01:01 PM IST Sharing his views on Vijay Mallya's debt repayment plan, Siddharth Purohit, Senior Research Analyst, said that the question will shift to how the deal is structured and the source of payment.
March 30, 2016 09:27 AM IST JP Associates will sell cement plants with capacity of 22.4 million tonnes for Rs 16,500 crore to UltraTech, sources say.
July 29, 2015 06:48 PM IST Speaking to CNBC-TV18, Â Rajat Monga CFO, YES Bank says the bank has restructured two borrower's accounts in the road sector for the quarter, totalling to about 20-21 bps on the banks' loan book.
December 30, 2014 11:51 AM IST In an interview to CNBC-TV18, Deepak Narang, executive director, United Bank of India expects the airline to be declared a wilful defaulter in 15-20.
December 30, 2014 10:13 AM IST BK Batra, DMD of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding.
December 24, 2014 03:28 PM IST The company is confident of funding the deal with internal accruals.
December 24, 2014 10:38 AM IST Manoj Gaur, executive chairman, Jaiprakash Associates says the deal is valued at Rs 900 crore per million tonne and the company now has around 20 MT of cement capacity.
November 19, 2014 11:34 AM IST According to HM Bangur of Shree Cements prices have been impacted adversely due to low demand.The prices have come down by Rs 10-15 per bag in the North India where they operate.
October 29, 2014 12:04 PM IST Discussing the latest developments, Deepak Narang, ED, United Bank of India, said the bank had given money to Airbus on behalf of Kingfisher and its unethical of them (Airbus) not to deliver post taking money.
August 25, 2014 04:54 PM IST Shree Cement was in talks with JP Associates with respect to this deal for a month, HM Bangur, managing director of Shree Cements.
March 03, 2014 05:20 PM IST The company‘s capacity will increase to 1800MW in India post JP deal and this transaction is likely to complete later this year, TAQA said.
February 11, 2014 12:20 PM IST Manoj Gaur, executive chairman, JP Associates says the company is taking a slew of measures to reduce debt meaningfully. It plans to announce two more deals on divestment in four weeks and is looking to sell two cement units and two hydro plants under phase 1. Phase 1 will also include the sale of some land bank under JP Infratech.
Despite adversities, the company still managed to report a year-on-year growth in cement, Manoj Gaur of Jaiprakash Associates said. Yet, the outlook for the sector as a whoel remains challenging because of the oversupply situation he said.
We are on course to reduce our debt at corporate level, at group level by Rs 14,000 -15,000 crore, says Manoj Gaur, Executive Chairman, Jaiprakash Associates
There is optimism that prices would go up but at the same time when newer capacities come in, there will be pressure on prices, correction will happen, says Sanjay Ladiwala, Cement Stockists and Dealers Association of Mumbai. This volatility is likely to continue for the next six months.
BK Batra, Deputy MD, IDBI Bank in an interview to CNBC-TV18, said they welcome the UltraTech and JP Associates deal because post deal he expects the debt level of JP Associates to get moderated.
Kumar Mangalam Birla believes it is a good asset, it is well priced, it is a fair value. It fits in with our overall scheme of things strategically.
Speaking to CNBC-TV18 soon after the announcement of the deal, Gaur said that the UltraTech's acquisition of its Gujarat plant is only a part of the company's debt reduction plan.
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