Jaiprakash Associates slips on profit booking

The stock slipped after rallying 7% in past two sessions

Jaiprakash Associates slipped almost 1.2% to Rs 57.75 in afternoon trades on the Bombay Stock Exchange (BSE), on profit booking after recent rally. The stock rallied almost 7% in the last two trading sessions.

On BSE, a total of 7.19 lakh shares chaneged hands in the counter as against average daily volume of 26.32 lakh shares in the past three months.

The stock remained volatile since the day's start. It tpuched a low of Rs 57.20 and a high of Rs 59.10 so far during the day.

The stock outperformed the benchmark indices over the past one month, surging 20.4% as compared to Sensex's 4.65% rise.

Jaiprakash Associates reported net loss of Rs 88.71 crore in Q3 December 2013 as against net profit of Rs 110.93 crore in Q3 December 2012. Net sales declined 7.7% to Rs 3137.88 crore in Q3 December 2013 over Q3 December 2012.