Jaiprakash Associates tumbles over 20% in four sessions

Jaiprakash Associates fell 4.55% to Rs 39.85 at 11:18 IST on BSE, extending recent losses ahead of its Q1 results today, 29 July 2013.

Meanwhile, the S&P BSE Sensex was down 117.89 points, or 0.60%, to 19,630.30.

On BSE, 18.10 lakh shares were traded in the counter as against an average daily volume of 25.10 lakh shares in the past one quarter.

The stock hit a low of Rs 39.10 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 40.90 so far during the day. The stock had hit a 52-week high of Rs 106.75 on 12 December 2012.

The stock had underperformed the market over the past one month till 26 July 2013, sliding 17.57% compared with the Sensex's 6.45% rise. The scrip had underperformed the market in past one quarter, falling 44.37% as against Sensex's 2.39% rise.

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

Jaiprakash Associates shares witnessed selling pressure in the past few trading sessions ahead of Q1 results. The stock is down 20.54% in four sessions from a recent high of Rs 50.15 on 23 July 2013.

According to media reports, the company is expected to have a subdued quarter, with cement volumes expected to fall in Q1 June 2013 over Q4 March 2013. Real estate revenues are also expected to decline post a robust Q4 March 2013.

Jaiprakash Associates' net profit fell 56.5% to Rs 123.50 crore on 4% decline in total income to Rs 3936.35 crore in Q4 March 2013 over Q4 March 2012.

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

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