Jaiprakash Associates (JP Associates) is currently trading at Rs. 39.15, up by 0.35 points or 0.90% from its previous closing of Rs. 38.80 on the BSE.
The scrip opened at Rs. 38.80 and has touched a high and low of Rs. 39.50 and Rs. 38.40 respectively. So far 12,99,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 106.75 on 12-Dec-2012 and a 52 week low of Rs. 28.40 on 19-Aug-2013.
Last one week high and low of the scrip stood at Rs. 44.80 and Rs. 37.30 respectively. The current market cap of the company is Rs. 8,687.00 crore.
The promoters holding in the company stood at 45.12% while Institutions and Non-Institutions held 35.78% and 19.09% respectively.
JP Associates in consortium with IBM has proposed setting up chip manufacturing unit which is likely to be operational in the country in the next two years. The said plant will enjoy the government subsidy and will entail an investment of about Rs 25,250 crore.
The proposed plant in consortium led by JP Associates, along with IBM Microelectronics and the system integrator Tower Jazz is likely to come up in Greater Noida in state of Uttar Pradesh. The government is yet to work out the details of subsidy the proposed projects will enjoy. The subsidy will depend on detailed project report to be submitted by the consortium.
The government will also hold 11 percent stake in the project while technology providers are required to hold 10 percent stake holding.
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