Jaiprakash Associates is currently trading at Rs. 71.80, down by 2.95 points or 3.95% from its previous closing of Rs. 74.75 on the BSE.

The scrip opened at Rs. 74.65 and has touched a high and low of Rs. 75.00 and Rs. 71.55 respectively. So far 955772 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 102.65 on 25-Apr-2011 and a 52 week low of Rs. 50.45 on 09-Jan-2012.

Last one week high and low of the scrip stood at Rs. 86.20 and Rs. 71.55 respectively. The current market cap of the company is Rs. 15352.85 crore.

The promoters holding in the company stood at 46.83% while Institutions and Non-Institutions held 30.96% and 22.21% respectively. 

Jaiprakash Associates will be hiving off its cement plants and other units of the company to wholly owned subsidiary - Jaypee Cement Corporation (JCCL). The company’s equity shareholders and creditors at a meeting directed by Supreme Court, held on February 25, 2012, duly approved the Scheme of Arrangement between the company and its wholly owned subsidiary.

Earlier, the group was reported to be in negotiations with investors for selling a part of its cement business to pare debt, which is over $8 billion or Rs 40,000 crore, by more than a third.

Jaypee's cement business is housed in Jaiprakash Associates, a listed company that has a cement-making capacity of 28 million tonnes a year, making it India's third-largest cement producer, behind capacities owned by Germany's Holcim and the Aditya Birla Group.

Jaiprakash Associates reported a fall of 12% in its net profit of Rs 205 crore in the third quarter of the current fiscal, mainly on higher interest outgo. The company had clocked Rs 233 crore net profit during the October-December quarter of last fiscal. The interest outgo of the company rose to Rs 449 crore during the quarter compared to Rs 338 crore a year ago as a result of the tightening of the monetary policy by the Reserve Bank of India.

Related Jaiprakash Associates Ltd. Links:

JP Associate Share Price

6.96 -0.05 (-0.71%) May 07, 18:03
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