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Home STOCKS JSPL seems to divest Oman plant shares up 4%

JSPL seems to divest Oman plant shares up 4%

Shares of Jindal Metal and Electric power (JSPL) acquired in excess of 4 for every cent following ET NOW documented that the firm is in talks with Center East-based players for divestment of Oman plant.
The scrip traded 4.35 per cent better at Rs 159 at all over 2.30 pm (IST), whilst the benchmark BSE Sensex was down 52 details or .15 for every cent at 34,909.
The report extra that Oman plant has a financial debt of about $750 million.
“Deals are in ultimate levels and announcement could come in future couple days,” sources instructed ET NOW.
Oman plant has a capacity of 2.4 million tonne. “Enterprise value of the transaction at about $800 million,” the report said, including the administration was on the lookout at promoting off the plant for the previous 3-4 decades.
There are hopes that 90 for each cent of proceeds from the sale are expected to be used to lower financial debt on the book.
JSPL management did not reply to ET NOW’s queries.
The company final month posted a consolidated profit of Rs 306 crore for the quarter ended March 31 and slice its internet credit card debt by Rs 4,379 crore in FY20 on a continual currency basis.
It had posted a internet loss of Rs 2,713 crore in the corresponding quarter last yr.

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