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When the whole street was celebrating Holi with new highs, one counter was frowning. The stocks of the Jaiprakash Group, which has significant business interests in Uttar Pradesh and Uttarakhand, fell by up to 9.1 per cent.
Against a Sensex gain of 1.71 per cent, JP Power Ventures lost 3.97 per cent at Rs 5.57, Jaiprakash Associates ended 5.7 per cent lower at Rs 14.1 per share, and Jaypee Infratech fell 9.1 per cent to close at Rs 10.59 per share.
"They were the favourites of the Mayawati regime. What happened to Mayawati in the elections is reflected in the prices," said
