JP Group stocks tank after SC orders Jaiprakash Assoc to deposit Rs 2,000 crore

India Infoline News Service | Mumbai | September 11, 2017 14:38 IST

JP Group stocks tanked during Monday’s trading session after Supreme Court asked parent company of Jaypee Infratech to deposit Rs 2,000 crore.

Stock Market Down, Sensex Down
JP Group stocks tanked during Mondays trading session after Supreme Court asked parent company of Jaypee Infratech to deposit Rs 2,000 crore.
 
The court also asked the Interim Resolution Professional, a body set up by the National formed by the National Company Law Tribunal (NCLT), to take over the management of Jaypee Infratech.
 
Meanwhile, the Court also restrained the Managing Director and Chief Executive of Jaypee Infratech and Jaypee Associates from leaving the country and ordered JP Associates to seek consent before sale of any property.
 
The share of Jaiprakash Associates was trading down by 6.42% at Rs 21 per share on BSE at 1407 hours. It opened at Rs 23.50 per share. The stock also breached its lower circuit at Rs 21.05 per share. The stock has attracted total traded volume of 8,10,50,318 shares and traded value of Rs 18,179.59 lakh on NSE at the same time.
 
While, the stock of Jaypee Infratech was trading lower by 4.76% at Rs 16 per share on BSE at 1411 hours. It opened at Rs 17.10 per share. The stock breached its lower circuit at Rs 16 per share. The stock has attracted a total traded volume of 42,13,258 shares and traded value of 687 lakh on NSE.

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