Jaiprakash Associates builds on expansion plans

DALAL STREET SPIKES

Infrastructure conglomerate, Jai-prakash Associates surged 7.68 per cent to close at Rs 197.60 on reports that the company plans to invest Rs 3,000 crore over four years and more-than-double its annual cement capacities to about 18 million tonnes.

This will be done either directly, through joint ventures or special purpose vehicles. The stock opened 1.5 per cent higher at Rs 186.25 and made an intraday high/low of Rs 198.95/186.10. The total traded quantity on the counter was 46.72 lakh shares against the two-week average of Rs 26.08 lakh shares.