Jaiprakash Associates falls on defaulting on loans of Rs 4,161 crore
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Jaiprakash Associates is currently trading at Rs. 7.37, down by 0.11 points or 1.47% from its previous closing of Rs. 7.48 on the BSE.
The scrip opened at Rs. 7.51 and has touched a high and low of Rs. 7.57 and Rs. 7.36 respectively. So far 999621 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 12.50 on 11-Oct-2022 and a 52 week low of Rs. 6.56 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 7.83 and Rs. 7.23 respectively. The current market cap of the company is Rs. 1811.49 crore.
The promoters holding in the company stood at 38.06%, while Institutions and Non-Institutions held 2.25% and 59.69% respectively.
Jaiprakash Associates has defaulted on loans of Rs 4,161 crore, including principal and interest amount. The company on March 31 defaulted on repayments of a principal amount of Rs 1,653 crore and interest of Rs 2,508 crore.
The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).
Jaiprakash Associates (JAL) is the engineering and construction arm of the Jaypee group focused on development of river valley and hydro electric projects and a leader in construction of river valley and hydropower projects on turnkey basis for more than four decades.
