The proposed combination relating to acquisition of clinker, cement and power plants belonging to Jaiprakash Associates Ltd and its associate by the Dalmia Cement (Bharat) Ltd, according to an official release.
UltraTech, India's No. 1 cement maker, is planning a 19% increase in capacity by the next fiscal year, its chairman said on Thursday, even as he warned that the outlook for the sector remained challenging.
Rikesh Parikh, Vice-President Markets Strategy and Product Development - Equities, Motilal Oswal Financial Services Ltd is of the view that one can buy a 70 put option of Jaiprakash Associates with a target price of around Rs 66 odd on the stock.
Jaiprakash Associate has support around Rs 65, says SP Tulsian, sptulsian.com.