Jaiprakash Associates drops on profit booking

Jaiprakash Associates lost 1.88% to Rs 57.35 at 12:11 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 26.92 points or 0.12% at 22,791.75.

On BSE, so far 7.19 lakh shares were traded in the counter as against average daily volume of 26.32 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.13% at the day's low of Rs 57.20 so far during the day. The stock rose as much as 1.11% at the day's high of Rs 59.10 so far during the day. The stock had hit a 52-week high of Rs 83.60 on 20 May 2013. The stock had hit a 52-week low of Rs 28.40 on 19 August 2013.

The stock had outperformed the market over the past one month till 21 April 2014, surging 20.39% compared with the Sensex's 4.65% rise. The scrip had also outperformed the market in past one quarter, jumping 20.76% as against Sensex's 7.12% rise.

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

Shares of Jaiprakash Associates had rallied 6.95% in two trading sessions to settle at Rs 58.45 on Monday, 21 April 2014, from a recent low of Rs 54.65 on 16 April 2014.

Jaiprakash Associates reported net loss of Rs 88.71 crore in Q3 December 2013 as against net profit of Rs 110.93 crore in Q3 December 2012. Net sales declined 7.7% to Rs 3137.88 crore in Q3 December 2013 over Q3 December 2012.

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

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