Jaiprakash Associates reverses recent gains

Jaiprakash Associates fell 3.17% to Rs 11.29 at 13:55 IST on BSE, with the stock reversing direction after recent gains.

Meanwhile, the BSE Sensex was up 57.81 points, or 0.20%, to 28,509.98.

On BSE, so far 33.41 lakh shares were traded in the counter, compared with average daily volume of 99.77 lakh shares in the past one quarter. The stock hit a high of Rs 11.50 and a low of Rs 11.08 so far during the day. The stock hit a 52-week high of Rs 14.90 on 16 October 2015. The stock hit a record low of Rs 5.30 on 2 June 2016. The stock had underperformed the market over the past 30 days till 31 August 2016, sliding 2.10% compared with 1.68% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 115.13% as against Sensex's 5.99% rise.

The small-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.

Shares of Jaiprakash Associates rose 4.67% in two trading sessions to settle at Rs 11.66 yesterday, 31 August 2016, from its close of Rs 11.14 on 29 August 2016.

Jaiprakash Associates reported net loss of Rs 1387.30 crore in Q4 March 2016, higher than net loss of Rs 858.07 crore in Q4 March 2015. Net sales declined 25.7% to Rs 1893.94 crore in Q4 March 2016 over Q4 March 2015.

Jaiprakash Associates is the flagship company of the Jaypee group and is engaged in engineering and construction, cement, real estate and hospitality businesses.

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