May 21, 2018 / 6:25 AM / a month ago

BUZZ-India's Jaiprakash Associates plunges most in nearly 3 years

** Shares of infrastructure company Jaiprakash Associates Ltd slump as much as 29.51 pct in their biggest pct loss since June 2015

** Shares fall to 12.30 rupees, their lowest since June 2017

** More than 167 mln shares change hands, as of 0623 GMT, 2.6 times the 30-day avg volume of 62 mln shares

** March-qtr loss narrowed to 787 mln rupees ($11.56 mln), but co said here results could not be compared with the same period last year as it sold major part of its cement business to UltraTech Cement

** Debt-laden Jaiprakash has reported a loss for 14 of the past 15 quarters

** Separately, Economic Times reported here that co will appeal against the National Company Law Tribunal Order that directed it to return nearly 760 acres of land to unit Jaypee Infratech Ltd

** Shares of Jaypee Infratech, which is being pursued in the bankruptcy court over loan defaults, were trading 5 pct lower

$1 = 68.0850 Indian rupees

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below