Jaiprakash Associates soars on plan to sell its wind power plants

30 Sep 2015

Jaiprakash Associates is currently trading at Rs. 11.48, up by 0.35 points or 3.14% from its previous closing of Rs. 11.13 on the BSE.

The scrip opened at Rs. 11.25 and has touched a high and low of Rs. 11.64 and Rs. 11.21 respectively. So far 1467119 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 35.10 on 19-Nov-2014 and a 52 week low of Rs. 7.95 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 12.08 and Rs. 10.25 respectively. The current market cap of the company is Rs. 2809.49 crore.

The promoters holding in the company stood at 39.38% while Institutions and Non-Institutions held 28.07% and 32.55% respectively.

In a bid to reduce its debts, Jaiprakash Associates is planning to sell its wind power plants of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat) aggregate capacity. In this regard, the company’s board will meet on September 30, 2015.

Recently, CARE cut the ratings of the company’s bank loans and bonds to default status following delay in payment of interest and weak liquidity position.

Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.


Related Jaiprakash Associates Ltd. Links:

JP Associate Share Price

6.96 -0.05 (-0.71%) May 07, 18:03
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323