Jaiprakash shines on block deal

DALAL STREET SPIKES

Jaiprakash Associates registered a huge block deal of 32.88 lakh shares in the morning trades, resulting in the stock gaining 2.6 per cent at close.

According to sources, Reliance Capital Trust was the buyer of these shares at Rs 110 per shares which were sold by Grantham ACC GMO Emerging Fund. A block deal had also taken place in the counter on July 29, 2004, when 41.29 lakh shares were traded between Merrill Lynch Capital Market (the seller) and Platinum Asset Management (the buyer).

The stock in Friday's trading hit a high of Rs 123.75, before closing at Rs 118.75, up 2.6 per cent from its previous close. The stock was relisted in mid-June 2004 following a scheme of amalgamation within the group. It got listed at Rs 113.10 on BSE on June 14, 2004, but tumbled subsequently and hit a low of Rs 76.45 on June 23, 2004.