Jaiprakash Associates drops after 6-day 16.1% rally

Jaiprakash Associates lost 0.94% to Rs 73.70 at 11:16 IST on BSE, with the stock sliding on profit booking after 6-day 16.15% rally.

Meanwhile, the S&P BSE Sensex was up 79.75 points or 0.43% at 18,810.91.

On BSE, 2.91 lakh shares were traded in the counter as against average daily volume of 20.35 lakh shares in the past one quarter.

The stock hit a high of Rs 74.50 and a low of Rs 73.50 so far during the day. The stock had hit a 52-week high of Rs 106.75 on 12 December 2012. The stock had hit a 52-week low of Rs 58.05 on 24 May 2012.

The stock had outperformed the market over the past one month till 17 April 2013, rising 0.2% compared with the Sensex's 3.58% fall. The scrip had, however, underperformed the market in past one quarter, declining 18.73% as against Sensex's 6.18% fall.

The large-cap infrastructure company has equity capital of Rs 443.81 crore. Face value per share is Rs 2.

Shares of Jaiprakash Associates had rallied 16.15% in six trading sessions to settle at Rs 74.40 on Wednesday, 17 April 2013, from a recent low of Rs 64.05 on 9 April 2013.

Jaiprakash Associates' net profit declined 64.2% to Rs 110.93 crore on 15.3% growth in net sales to Rs 3398.39 crore in Q3 December 2012 over Q3 December 2011.

Jaiprakash Associates is a diversified company with business interest in construction, power, cement, real estate and hospitality.

Powered by Capital Market - Live News