Jaiprakash Associates plunges 7% after tepid Q1

Shares of Jaiprakash Associates today plunged 7 per cent after the company reported widening of standalone net loss to Rs 602.95 crore for the quarter ended June 2016.
The scrip tanked 6.85 per cent to settle at Rs 11.28 on BSE. During the day, it lost 9.57 per cent to Rs 10.95.
At NSE, it dropped 7 per cent to end at Rs 11.25.
Led by the decline in the stock, the company's market valuation fell by Rs 201.19 crore to Rs 2,743.81 crore.
On the volume front, 73.43 lakh shares of the company were traded on BSE and over 3 crore at NSE during the day.

The company had posted a net loss of Rs 482.43 crore in the corresponding period of the previous fiscal.
Total income of the company on standalone basis declined 27.11 per cent to Rs 1,734.98 crore in the quarter under review, from Rs 2,380.58 crore a year ago, the infrastructure firm said in a regulatory filing to the BSE on Friday.
Its expenses too declined to Rs 1,744.75 crore during the quarter under review, from Rs 2,299.95 crore earlier.