Jaypee Group stocks tumble over 6% in trade

NEW DELHI: Shares of debt-ridden, Jaiprakash Associates plunged by over 6 per cent on Tuesday.

The stock was trading 8.92 per cent down at Rs 18.90 on BSE at around 11.40 am (IST). It has lost 20.42 per cent in the past 3 sessions since June 29. It eventually closed the day 6.27 per cent down, at Rs 19.45.

The scrip opened at Rs 20.85 and touched an intraday high and low of Rs 20.85 and Rs 18.70, respectively.

Shares of Jaiprakash Associates has advanced 190 per cent in the last one year from Rs 7.83 on June 29, 2016 to Rs 22.70 on June 29, 2017.

On the BSE, 187.61 lakh shares were traded on the counter, as compared to a two-week average of 235.58 lakh shares.

UltraTech Cement has recently completed the Rs 16,189 crore acquisition of Jaiprakash Associates' six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.

The scheme implementation committee at its meeting held last week "made effective the scheme of arrangement between UltraTech, Jaiprakash Associates, Jaypee Cement Corporation and their respective shareholders and creditors," the Aditya Birla Group company said in a statement.

Jaypee Infratech also ended the day 7.40 per cent down at Rs 16.90.