Jaypee Group stocks plunge on high volumes, interest rate scenario

MUMBAI: Shares of Jaypee Group companies - Jaiprakash Associates, Jaiprakash Power and Jaypee Infratech - are witnessing sharp sell-off on huge volumes.

The uncertainty of future rate cuts could be one of the possible reasons for sharp fall in stock prices, say dealers. Jaypee Group companies are highly leveraged companies and any delay in rate cut would put pressure on their balance sheets.

Jaiprakash Associates plunged 29.17 per cent, Jaypee Infratech tanked 15.94 per cent and Jaiprakash Power fell 24.89 per cent intraday.