Jessop & Co Mulls Strategic Alliance Global Cos

Kolkata: Jessop & Co is planning strategic partnership with overseas majors for foray into new generation coaches segment including those used in metro railway and other mass rapid transit systems. The company is also planning to establish a new facility at its existing premises in Durgapur for the fresh business initiatives. There is little doubt that promoters have too high a stake of over 90 per cent which should be diluted. Jessop currently has about one per cent public shareholding and the stock is rarely traded. Meanwhile the company has done a revaluation of assets. As per the fresh valuation, the asset is now valued at Rs 800 crore up from Rs 35 crore. The asset value increased primarily due to increase in land prices. Jessop has possession of over 73 acres in Kolkata and 115 acres in Durgapur.