Jaypee Infratech, Jaiprakash Associates drop 4-8% following court order

The Supreme Court refused permission to embattled Jaiprakash Associates to hive-off the rights of multi-crore six-lane Yamuna Expressway connecting Greater Noida with Agra in Uttar Pradesh.

Oct 26, 2017 06:10 IST India Infoline News Service

Jaypee Infratech slipped nearly 4%, while Jaiprakash Associates declined by 8% intraday Thursday after the Supreme Court denied to allow Jaiprakash Associates to sell its Yamuna Expressway.

The Supreme Court refused permission to embattled Jaiprakash Associates to hive-off the rights of multi-crore six-lane Yamuna Expressway connecting Greater Noida with Agra in Uttar Pradesh.

The apex court, however, extended the time from October 27 to November 5 for the company to deposit Rs 2000 crore.

Jaiprakash Associates Ltd is currently trading at Rs 18.8, down by Rs 1.4 or 6.93% from its previous closing of Rs 20.2 on the BSE.
The scrip opened at Rs 19.3 and has touched a high and low of Rs 19.3 and Rs 17.7 respectively. So far 77769895 shares were traded on the counter. The current market cap of the company is Rs 4913.56 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 30.4 on 07-Aug-2017 and a 52 week low of Rs 6.71 on 25-Nov-2016. Last one week high and low of the scrip stood at Rs 20.4 and Rs 18.05 respectively.

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