Jaiprakash Associates fell 4.55% to Rs 39.85 at 11:18 IST on BSE, extending recent losses ahead of its Q1 results today, 29 July 2013.
Meanwhile, the S&P BSE Sensex was down 117.89 points, or 0.60%, to 19,630.30.
On BSE, 18.10 lakh shares were traded in the counter as against an average daily volume of 25.10 lakh shares in the past one quarter.
The stock hit a low of Rs 39.10 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 40.90 so far during the day. The stock had hit a 52-week high of Rs 106.75 on 12 December 2012.
The stock had underperformed the market over the past one month till 26 July 2013, sliding 17.57% compared with the Sensex's 6.45% rise. The scrip had underperformed the market in past one quarter, falling 44.37% as against Sensex's 2.39% rise.
The mid-cap company has an equity capital of Rs 443.81 crore. Face value per share is Rs 2.
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Jaiprakash Associates shares witnessed selling pressure in the past few trading sessions ahead of Q1 results. The stock is down 20.54% in four sessions from a recent high of Rs 50.15 on 23 July 2013.
According to media reports, the company is expected to have a subdued quarter, with cement volumes expected to fall in Q1 June 2013 over Q4 March 2013. Real estate revenues are also expected to decline post a robust Q4 March 2013.
Jaiprakash Associates' net profit fell 56.5% to Rs 123.50 crore on 4% decline in total income to Rs 3936.35 crore in Q4 March 2013 over Q4 March 2012.
Jaiprakash Associates is a diversified company with business interest in construction, power, cement, real estate and hospitality.
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