Jaiprakash Associates builds on entry in Sensex pack

Jaiprakash Associates rose 4.88% to Rs 229.80 at 10:52IST on BSE after it replaced Bajaj Auto in the benchmark Sensex today 14 March 2008.

The scrip had touched a high of Rs 233 and a low of Rs 220 so far during the day. The stock had hit a 52-week high of Rs 510 on 4 January 2008 and a 52-week low of Rs 101 on 5 April 2007.

The company has an equity capital of Rs 234.11 crore. Face value per share is Rs 2.

At the current price of Rs 229.80, the scrip trades at a PE multiple of 42.71, based on Q3 December 2007 annualised EPS of Rs 5.38.

Jaiprakash Associates’ net profit rose 52.9% to Rs 156 crore on 0.2% fall is net sales to Rs 900 crore in Q3 December 2007 over Q3 December 2006.

Jaiprakash Associates, the flagship company of the Jaypee Group, is involved in construction of major engineering projects for the last four decades, including complex hydro power/river valley projects, and expressways. The company also has it presence in cement, hospitality and real estate business.