JP, Amtek Group extend gains; Jaypee Infra surge over 50% in one week

JP Associates, JP Power Ventures, Jaypee Infratech, Amtek Auto, JMT Auto and Castex Technologies were up 17% to 56% in one week

Shares of Jaiprakash Associates (JP) Group stocks Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech rallied by upto 20% in intra-day trade on the BSE, extending their gains for the past three days on back of positive media reports.

Jaiprakash Power Ventures has surged 20% to Rs 9.52, also its 52-week high on the BSE in intra-day trade today on back of heavy volumes. The stock rallied 37% in past four trading sessions after the media report suggested that lenders scout for new owner for JP Group arm Prayagraj Power.

The trading volumes on the counter jumped more than 10-fold with a combined 71.48 million shares changed hands on the BSE and NSE till 01:16 PM. There were pending buy orders 3.22 million shares on both the exchanges.

A State Bank-led consortium of lenders has invited bids to sell majority stake in debt- ridden Prayagraj Power Generation Company (PPGCL), an arm of Jaiprakash Power Ventures, the PTI report suggested. CLICK HERE TO READ FULL REPORT

Jaypee Infratech locked in upper circuit for the second straight day, up 10% at Rs 23.93 on the BSE. In past one week, the stock appreciated 56% from Rs 15.34 on December 22, 2017.

JP Associates too surged 13% to Rs 26.30, extending its over 40% rally in past three trading days.

Among the Ametk Group companies, Amtek Auto locked in upper circuit for the third day in a row, up 5% at Rs 29.90 on the BSE.

The Exchange has sought clarification from Amtek Auto on December 26, 2017 with reference to news flashed on Business Standard dated December 28, 2017 quoting "Liberty House, AION, SSG Capital, Deccan Value bid for Amtek Auto". The reply is awaited.

COMPANY	LATEST	1-WEEK BEFORE	GAIN(%)
JAYPEE INFRATEC.	23.93	15.34	56.0
JP ASSOCIATES	26.00	18.40	41.3
JP POWER VEN.	9.52	6.97	36.6
CASTEX TECH	6.92	5.20	33.1
JMT AUTO	5.79	4.95	17.0
AMTEK AUTO	29.90	25.65	16.6
METALYST FORG.	37.35	32.85	13.7