Jaiprakash Associates has tanked 9% to Rs 43, extending its Wednesday’s 6% fall, after Deutsche Bank downgraded the stock to sell from hold citing higher-than-expected debt. A foreign bank has reduced target price on Jaiprakash Associates to Rs 42 from Rs 55.
Jaiprakash Associates' consolidated debt to equity ratio stood at 4 as on March 31, 2013. On a consolidated basis, the company's total debt was Rs 63,111 crore as on March 31, 2013.
Meanwhile, the company is schedule to announce its April-June (Q1) earnings on July 29, 2013.
“Jaiprakash Associates is expected to have a subdued quarter, with cement volumes expected at 3.7mt, declining sequentially from 4.0mt. Real estate revenues are also expected to decline post a robust Q4FY13,” says analyst at Edelweiss Securities in quarterly results preview.
The stock opened at Rs 45.75 and hit a low of Rs 42.50, its lowest level since March 2009 on BSE. A combined 27.4 million shares have changed hands on the counter till 1130 hours on BSE and NSE.
Jaiprakash Associates' consolidated debt to equity ratio stood at 4 as on March 31, 2013. On a consolidated basis, the company's total debt was Rs 63,111 crore as on March 31, 2013.
Meanwhile, the company is schedule to announce its April-June (Q1) earnings on July 29, 2013.
“Jaiprakash Associates is expected to have a subdued quarter, with cement volumes expected at 3.7mt, declining sequentially from 4.0mt. Real estate revenues are also expected to decline post a robust Q4FY13,” says analyst at Edelweiss Securities in quarterly results preview.
The stock opened at Rs 45.75 and hit a low of Rs 42.50, its lowest level since March 2009 on BSE. A combined 27.4 million shares have changed hands on the counter till 1130 hours on BSE and NSE.
