 "JP Associates hits fresh 52-week high, Jaypee Infratech up 20%")
Shares of Jaypee Group companies such as Jaiprakash Associates, Jaypee Infratech and Jaiprakash Power Ventures have rallied by up to 20% in otherwise subdued market.
Jaypee Infratech is locked in upper circuit of 20% at Rs 14.94 on BSE on back of three-fold jump in trading volumes. A combined 7.69 million shares have already changed hands and there were pending buy orders for 2.8 million shares on the BSE and NSE.
Jaiprakash Associates too surged 20% to Rs 22.53, also its fresh 52-week high on BSE in intra-day trade, extending its past two days 22% rally after lenders clear the company’s debt recast plan.
Business Standard on June 22, reported that the lenders have approved in principle the debt recast for Jaypee group flagship Jaiprakash Associates and will issue a formal clearance on Thursday. The draft recast plan had been circulated among the lending banks, bankers said. CLICK HERE TO READ FULL REPORT
On clarification of news report, Jaiprakash Associates said that the proposal for realignment of remaining debt of the company subsequent to the transfer of a large part of the debt to UltraTech Cement subject to approval of the lenders which is awaited.
The Joint Lenders Forum (JLF) of the company met on June 22, 2017. However, the Company is yet to hear about the decision of the Lenders. Therefore, the company cannot comment on the news item.
At 10:28 am; the stock was trading 8% higher at Rs 20.29, as compared to 0.35% decline in the S&P BSE Sensex. In past one month, the stock appreciated 117% from Rs 9.34 on May 24.
Jaiprakash Power Ventures too up 8% at Rs 4.97, after hitting high of Rs 5.28 on BSE in intra-day trade. A combined 11.93 million shares changed hands on the counter on BSE and NSE so far.
Jaypee Infratech is locked in upper circuit of 20% at Rs 14.94 on BSE on back of three-fold jump in trading volumes. A combined 7.69 million shares have already changed hands and there were pending buy orders for 2.8 million shares on the BSE and NSE.
Jaiprakash Associates too surged 20% to Rs 22.53, also its fresh 52-week high on BSE in intra-day trade, extending its past two days 22% rally after lenders clear the company’s debt recast plan.
Business Standard on June 22, reported that the lenders have approved in principle the debt recast for Jaypee group flagship Jaiprakash Associates and will issue a formal clearance on Thursday. The draft recast plan had been circulated among the lending banks, bankers said. CLICK HERE TO READ FULL REPORT
On clarification of news report, Jaiprakash Associates said that the proposal for realignment of remaining debt of the company subsequent to the transfer of a large part of the debt to UltraTech Cement subject to approval of the lenders which is awaited.
The Joint Lenders Forum (JLF) of the company met on June 22, 2017. However, the Company is yet to hear about the decision of the Lenders. Therefore, the company cannot comment on the news item.
At 10:28 am; the stock was trading 8% higher at Rs 20.29, as compared to 0.35% decline in the S&P BSE Sensex. In past one month, the stock appreciated 117% from Rs 9.34 on May 24.
Jaiprakash Power Ventures too up 8% at Rs 4.97, after hitting high of Rs 5.28 on BSE in intra-day trade. A combined 11.93 million shares changed hands on the counter on BSE and NSE so far.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) | VOLUME |
| JAYPEE INFRATEC. | 14.94 | 12.45 | 20.00 | 2673934 |
| JP ASSOCIATES | 20.34 | 18.78 | 8.31 | 14035077 |
| JP POWER VEN. | 4.96 | 4.60 | 7.83 | 1746476 |
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