Indian engineering and construction firm Jaiprakash Associates Ltd has not submitted a proposal to dilute up to 26 percent of its cement business to its restructuring committee,a statement said on Wednesday,denying an earlier media report. Shares in Jaiprakash closed up 7.6 percent at 71.35 rupees ($1.55) against a rise of 1.2 percent in the benchmark index after the Business Standard newspaper,citing sources,said that the company was in talks to sell the stake. The report named Mexico's Cemex and South America's Votorantim Group among the possible candidates. . ($1 = 46.110 Indian Rupees) Company INFO More on Jaiprakash Asso Stocks More on Jaiprakash Asso
