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JP Associates hits fresh 52-week low on reports of insolvency proceedings

At 11:13 am, the stock was trading at Rs 9.55 on the BSE, down 5.45% from the previous close. A combined 48.1 million shares were traded on the counter so far, according to the exchange's data.

SI Reporter  |  New Delhi 

Jaypee Group

Shares of (JP Associates) hit a fresh of Rs 9.32 per share, down 8%, extending their 12% decline in past four days on reports that filed insolvency case against the company.

“A copy of Order dated 10.09.2018 passed by Hon'ble Allahabad (as obtained just now) from which we find that has filed petition under section 7 of the Insolvency and Bankruptcy Code, 2016, against the Company,” said in clarification of the report.

As is clear from the Order itself that no notice of the Petition had been served on the Company. The Company has been given time to file its reply within seven days and the matter is listed for 17th September 2018, it added.

At 11:13 am, the stock was trading at Rs 9.55 on the BSE, down 5.45% from the previous close. A combined 48.1 million shares were traded on the counter so far, according to the exchange's data.

First Published: Wed, September 12 2018. 11:13 IST
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