Jaypee Infratech jumped 6.11% to Rs 16.50 at 14:20 IST on BSE on bargain hunting after the stock slumped 32.68% in the preceding eight trading sessions to Rs 15.55 on 2 August 2013, from a recent high of Rs 23.10 on 23 July 2013.
Meanwhile, the S&P BSE Sensex was up 19.23 points, or 0.10%, to 19,183.25.
On BSE, 2.44 lakh shares were traded in the counter as against an average daily volume of 2.70 lakh shares in the past one quarter.
The stock hit a high of Rs 16.80 and a low of Rs 15.30 so far during the day. The stock had hit a 52-week low of Rs 15.10 on Friday, 2 August 2013. The stock had hit a 52-week high of Rs 58.60 on 7 January 2013.
The stock had underperformed the market over the past one month till 2 August 2013, sliding 41.76% compared with the Sensex's 1.54% fall. The scrip had also underperformed the market in past one quarter, falling 59.29% as against Sensex's 2.90% fall.
The small-cap company has an equity capital of Rs 1388.93 crore. Face value per share is Rs 10.
The recent weakness in Jaypee Infratech shares was triggered by the company's poor Q1 earnings.
Jaypee Infratech's net profit slumped 61.4% to Rs 81.01 crore on 13.4% increase in net sales to Rs 769.20 crore in Q1 June 2013 over Q1 June 2012.
The company announced the result on 29 July 2013. The stock slumped 24.33% in the preceding four trading sessions to Rs 15.55 on 2 August 2013 from Rs 20.55 on 29 July 2013.
Jaypee Infratech has only one segment i.e. the Yamuna expressway project in Uttar Pradesh, connecting Noida and Agra, which includes construction, operation and maintenance of the Yamuna expressway and rights for land development of 25 million square meters along the expressway. The Yamuna expressway project was commissioned on 7 August 2012 and opened to public from 9 August 2012.
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