Jaiprakash signs agreement with Dighi Port for setting up cement grinding plant

Construction and engineering company Jaiprakash Associates Ltd said it signed an agreement with Dighi Port to set up a three million tonne per annum cement grinding plant at Kutch at an investment of around Rs600 crore.

Apart from setting up a cement plant, the company will also build a coal-based captive power plant and a water desalination plant at Dighi Port. The total cost of the project is Rs600 crore.

On Tuesday, Jaiprakash Associates shares ended 1.9% down at Rs129 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 20,203 points.

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Kalpataru Power to acquire 20% stake in JMC Projects

Power utility company Kalpataru Power Transmission Ltd said it will buy 20% stake in its subsidiary company JMC Projects (India) Ltd, at Rs207 a share, in cash.

Kalpataru Power proposes to buy 52.8 lakh shares representing 20.2% of the post preferential issue paid up capital consisting of 20% of the emerging voting capital of JMC Projects, Kalpataru said in filing with the Bombay Stock Exchange (BSE).

The offer will open for subscription on 29 November 2010 and close on 10 December 2010, the filing said. Collins Stewart Inga Pvt Ltd is manager to the offer.

On Tuesday, Kalpataru Power shares declined 1.1% to Rs185 on the BSE. JMC Projects shares also ended 1.8% down at Rs205. While, the benchmark Sensex closed 0.7% down at 20,203 points.
 

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Fortis Healthcare to buy Quality HealthCare Asia for Rs882 crore

Fortis Healthcare Ltd said it plans to buy healthcare business of Hong Kong-based Quality HealthCare Asia for about Rs882 crore.

Quality Healthcare Asia has a network of more than 580 Western and Chinese medical centres, and 47 dental and physiotherapy centres. It also has seven elderly care homes and an international nursing agency.

According to an agreement, Fortis Global Healthcare, the overseas investment arm of Fortis Healthcare, will acquire five subsidiaries of Quality Healthcare Asia except its elderly healthcare businesses for HK$1.5 billion in cash. Fortis Global Healthcare will also give HK$20 million in base working capital.

The acquisition includes a network of 60 wholly-owned medical centres, 520 affiliated clinics, 47 dental and physiotherapy centres, and a private-nursing agency with more than 3,000 nurses.

On Tuesday, Fortis Healthcare shares ended 1.6% down at Rs170 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 20,203 points.

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