Jaiprakash Associates hits 52-week low on Deutsche Bank downgrade

Posted By: Religare
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Shares of Jaiprakash Associates, a part of Jaypee Group, tumbled over 11 per cent, hitting 52-week low, on Bombay Stock Exchange (BSE) after Deutsche Bank downgraded the stock to 'sell' from 'hold' citing higher-than-expected debt.

Besides, the market experts have estimated that the company may report subdued performance in June quarter higher input cost and lower realization.

In line with benchmark indices, shares of the company declined as much as 11.22 per cent and touched 52-week low to trade at Rs 41.90 a piece on the BSE.

In a similar fashion, shares of the company dipped 9.84 per cent to Rs 42.60 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 19,974.15, down 116.52 points or 0.58 per cent at 1214 hours.

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