Jaiprakash zooms on robust Q2 numbers

DALAL STREET SPIKES

Jaiprakash Associates jumped 16.25 per cent to close the day at Rs 78.70 after the company announced the results for the second quarter ended September 2008. Jaiprakash’s net profit increased by 96 per cent to reach Rs 203.13 crore y-o-y in the second quarter.

Total income rose 39.5 per cent to Rs 1,286.63 crore in the same period. The company wants to raise around Rs 1,800 crore through a rights issue to fund its capex programme. The stock hit an intraday high of Rs 80 and a low of Rs 68.5 with traded volumes of 8,696,841 shares.