Jaiprakash Associates recovers on bargain hunting

Jaiprakash Associates rose 3.75% to Rs 77.40 at 15:15 IST on BSE, with the stock recovering on bargain hunting after recent steep slide.

Meanwhile, the S&P BSE Sensex was down 40.57 points or 0.16% at 25,187.60.

On BSE, so far 32.03 lakh shares were traded in the counter as against average daily volume of 27.83 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 4.49% at the day's high of Rs 77.95 so far during the day. The stock lost as much as 3.08% at the day's low of Rs 72.30 so far during the day. The stock had hit a 52-week high of Rs 89.85 on 11 June 2014. 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 13 June 2014, surging 16.38% compared with the Sensex's 5.68% rise. The scrip had also outperformed the market in past one quarter, jumping 59.74% as against Sensex's 15.86% 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 declined 15.46% in three trading sessions to settle at Rs 74.60 on Friday, 13 June 2014, from a recent high of Rs 88.25 on 10 June 2014.

Jaiprakash Associates' net profit fell 18.7% to Rs 100.42 crore on 11.9% decline in net sales to Rs 3402.61 crore in Q4 March 2014 over Q4 March 2013.

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

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