Jaiprakash hits top circuit on road deal

DALAL STREET SPIKES

Jaipraksh Associates remained in the 20 per cent upper circuit till the end of the trading session at Rs 544.50.

The company has been awarded a contract for the Delhi-Agra expressway by the UP Government. The counter saw a six-fold jump in its volumes at 6.9 million shares.

The company's September quarter results were not so encouraging as its net sales and profits grew only 15 and 5 per cent respectively to Rs 770 crore and Rs 90 crore.

The company focuses right from build-own-operate (BOO) basis to engineering, procurement, construction (EPC) contracts, besides executing construction contracts ranging from 300 Mw to 1,500 Mw.

It has a presence in the cement business as also in the hospitality segment. The stock has significantly underperformed the broader market ever since July.