Buzzing stocks: JP Associates, JP Power, Jaypee Infratech surge up to 75% in 2017 so far

NEW DELHI: Shares of Jaypee Group of companies have caught investors’ fancy as Jaiprakash Associates, JP Power Ventures and Jaypee Infratech have surged up to 75 per cent since the beginning of the calendar year.

Jaiprakash Associates and Jaypee Infratech also hit their fresh 52-week highs of Rs 11.47 and Rs 11.59, respectively, in Monday’s trade.

Jaiprakash Associates will announce its financial results for the quarter ended December 31 on February 10. For the quarter ended September 30, the company had reported a consolidated net loss of Rs 781.20 crore against net loss of Rs 537.75 crore in the corresponding quarter last year.

Jaiprakash Associates surged 74.55 per cent to the intraday high of Rs 14.47 on February 6 from Rs 8.29 on January 2.

Likewise, Jaypee Infratech climbed to Rs 9.79 from Rs 7.53 during the same period. Meanwhile, benchmark BSE Sensex has advanced over 6 per cent till date.

Since January 1, share price of Jaiprakash Power Ventures surged 68 per cent to intraday high of Rs 6.74 on February 6. Jaiprakash Power Ventures in January sought shareholders nod, through postal and electronic ballot, to convert part of its outstanding debt of Rs 3,058 crore into 305.80 crore equity shares.