JP Associates rises on board's nod to raise Rs 4,000 crore

The Jaiprakash (JP) Associates stock rose 3.58 per cent to Rs 130.3 on receiving the go-ahead from its board to raise Rs 4,000 crore through the issue of non-convertible debentures. These funds would be used for its capex programme, working capital needs and for other general corporate purposes.

Net profit for the fourth quarter of FY09 rose 83.12 per cent to Rs 210.41 crore. The stock made an intraday high of Rs 133 and a low of Rs 120. The stock saw volumes of 15.6 million shares, twice its two-week average.