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Shree Cement is looking to obtain a 1.50-million-ton pounding unit of Jaiprakash Associates in Haryana for Rs 360 crore. The board of the organization today provided for its agree to obtain the unit found at Panipat, subject to the completion of due steadiness and fundamental supports and assent, Shree Cement today said in a filing on the BSE.

H.m. Bangur, managing director of Shree Cement, shortly informed The Telegraph that the securing was to a greater degree an “call the future" and would assist the organization to grow its ability in North India.
"We anticipate that the cement market will develop in the near-term pair of years. For 2014-15, we have enough limit yet, as the market enhances, we need to be ready with sufficient granulating limit," Bangur said.

Shree Cement, a significant player in Rajasthan, has plans for pounding units in Chhattisgarh and Bihar. In spite of the fact that based out of Calcutta, the organization that sells cement under the Shree Ultra, Bangur and Rock tough brands is available for the most part in North India. Bangur said the organization was looking at a limit of 23 million tons, which incorporates growth in the east.

He said the organization had assessed the option of setting up a granulating unit on its own which could have included buy of area and development.

"The expense would have been like what we are looking to pay," Bangur said to clarify the inorganic increase. The Jaypee group is selling advantages for slice its debts, which had amassed to Rs 60,000 crore. The organization had sold its Gujarat plant to Ultratech and a wager in a Bokaro cement unit. The net benefit of Shree Cements amid the quarter closed June was Rs 277.02 crore against Rs 284.31 crore in the comparing quarter a year prior. The organization's Stock value today tumbled to Rs 7,939 from Friday's end of Rs 8,039.50 on the BSE.

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News Release: Stock Trading Tips: Shree Cement to buy unit of JP Associates
Submitted on: August 26, 2014 06:16:13 AM
Submitted by: anamika rai
On behalf of: www.swastika.co.in/Services/Stock-Market-Trading

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