India's Jaiprakash Associates falls as Adani Group denies interest in cement unit

Jaiprakash Associates

14/10/2022 10:36

** Shares of diversified infrastructure co Jaiprakash
Associates Ltd  JAIA.NS  fall as much as 6.1% to 10.7 rupees,
lowest since Oct. 12
    ** Adani Enterprises  ADEL.NS  says it is not evaluating a
proposal to acquire Jaiprakash Associates' cement business
    ** Earlier this week, Bloomberg News reported Adani
Enterprises was in talks to buy JAIA's cement unit for $606
million
    ** JAIA stock set to fall for second straight session
    ** More than 16.7 million JAIA shares change hands by 0922
GMT vs 30-day avg of 31 million shares
    ** Stock up 14.57% YTD up to last close
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))