Citi Global sell Jaiprakash Associates' shares worth Rs 34 crore

NEW DELHI: Citigroup Global Markets Mauritius today sold shares of Jaiprakash Associates worth more than Rs 34 crore.

More than 1.25 crore shares of the company were offloaded through a bulk deal, according to data available with the National Stock Exchange.

These shares were sold at a price of Rs 27.34 apiece. Shares of Jaiprakash group of companies today fell as much as 19 per cent after Reliance Power's talks to acquire Jaiprakash Power Ventures' three hydro power projects was called off.

Jaiprakash Associates' stock plunged 19.15 per cent to settle at Rs 25.75 on the BSE.

The scrip of Jaiprakash Power Ventures Ltd tanked 13.92 per cent to end at Rs 11.75. Similarly, Jaypee Infratech dropped 13.45 per cent to Rs 19.95.

The group's cumulative market valuation dropped by Rs 1,791.35 crore to Rs 12,486.65 crore.