Jaiprakash Associates spurts as Jhunjhunwala picks stake

Jaiprakash Associates surged 10.18% to Rs 21.10 at 10:30 IST on BSE after ace investor Rakesh Jhunjhunwala's Rare Enterprises bought 3 crore shares of the company at Rs 18.37 per share in a bulk deal on the NSE yesterday, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 209.04 points or 0.62% at 33,476.50. The S&P BSE Mid-Cap index fell 0.12%, outperforming the Sensex.

On the BSE, 1.53 crore shares were traded on the counter so far as against the average daily volumes of 87.31 lakh shares in the past one quarter. The stock had hit a high of Rs 22 and a low of Rs 20.60 so far during the day. The stock had hit a 52-week high of Rs 30.40 on 7 August 2017 and a 52-week low of Rs 9.15 on 24 May 2017.

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

Jaiprakash Associates reported net loss of Rs 148.10 crore in Q3 December 2017 as against net loss of Rs 1095.02 crore in Q3 December 2016. Net sales declined 27.2% to Rs 1108.60 crore in Q3 December 2017 over Q3 December 2016.

Jaiprakash Associates is a diversified infrastructure company.

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