Jaiprakash Associates rose 2.25% to Rs 11.38 at 13:00 IST on BSE after the board of directors at its meeting today, 30 September 2015 approved the proposal to divest its wind power plants in Maharashtra and Gujarat on slump sale basis.
The company made announcement during market hours today, 30 September 2015.
Meanwhile, the S&P BSE Sensex was up 241.59 points or 0.94% at 26,020.25.
On BSE, so far 21.55 lakh shares were traded in the counter as against average daily volume of 36.55 lakh shares in the past one quarter.
The stock hit a high of Rs 11.64 and a low of Rs 11.21 so far during the day. The stock had hit a 52-week high of Rs 35.10 on 19 November 2014. The stock had hit a record low of Rs 7.95 on 25 August 2015.
The stock had outperformed the market over the past one month till 29 September 2015, rising 14.39% compared with 2.33% fall in the Sensex. The scrip had also outperformed the market in past one quarter, dropping 0.18% as against Sensex's 6.75% fall.
The mid-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.
Jaiprakash Associates said wind power plants in Maharashtra and Gujarat have an aggregate capacity of 49 megawatts (MW).
Jaiprakash Associates reported a net loss of Rs 464.99 crore in Q1 June 2015, higher than net loss of Rs 80.61 crore in Q1 June 2014. Total income declined 17.1% to Rs 2521.83 crore in Q1 June 2015 over Q1 June 2014.
Jaiprakash Associates (JAL) is the flagship company of the Jaypee group and is engaged in engineering and construction, cement, real estate and hospitality businesses.
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