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Jaiprakash Associates hits fresh 52-week high

The stock hit a fresh 52-week high of Rs 18.60, rallied 99% from Rs 9.34 on May 24.

JP Group
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SI Reporter Mumbai
Jaiprakash Associates hit a fresh 52-week high of Rs 18.60, up 13%, extending its past two days 12% gain on BSE, after lenders clear the company’s debt recast plan.

According to Business Standard reports, lenders have approved in principle the debt recast for Jaypee group flagship Jaiprakash Associates and will issue a formal clearance on Thursday. The draft recast plan had been circulated among the lending banks, bankers said. CLICK HERE TO READ FULL REPORT

On clarification of news report, Jaiprakash Associates said that the proposal for realignment of remaining debt of the company subsequent to