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Jaiprakash Associates has informed the exchanges that it has received a letter from Orient Cement, terminating the share purchase agreement it had entered into on May 31, 2017, as the transaction did not take place within 12 months of the execution date. Jaiprakash Associates had entered into a share purchase agreement with Orient Cement for sale of equity shares constituting 74 per cent of the share capital of Bhilai Jaypee Cement (a joint venture with Steel Authority of India). Shares of JP Associates fell 3.8 per cent at ₹15.15 on the NSE.
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