Jaiprakash Associates spurts on bargain hunting

Jaiprakash Associates surged 7.06% to Rs 46.25 at 14:56 IST on BSE on bargain hunting after the stock fell 9.15% in the preceding four trading sessions to Rs 43.20 on 28 October 2013, from a recent high of Rs 47.55 on 22 October 2013.

Meanwhile, the BSE Sensex was up 362.65 points, or 1.76%, to 20,932.93.

On BSE, 34.84 lakh shares were traded in the counter compared with average volume of 45.23 lakh shares in the past one quarter.

The stock hit a high of Rs 46.40 and a low of Rs 42.40 so far during the day. The stock hit a 52-week high of Rs 106.75 on 12 December 2012. The stock 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 28 October 2013, rising 18.19% compared with the Sensex's 4.27% rise. The scrip had, however, underperformed the market in past one quarter, rising 3.47% as against Sensex's 4.16% rise.

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

Jaiprakash Associates' net profit surged 140.9% to Rs 334.51 crore on 10.8% growth in net sales to Rs 3283.26 crore in Q1 June 2013 over Q1 June 2012.

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

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