Jaiprakash Associates Limited increases FII limit to 45%

Jaiprakash Associates Limited has announced that "As per the results of the voting conducted through Postal Ballot, the shareholders of the Company have, inter-alia, approved the increase in limit of investment by Foreign Financial Institutions (FIIs) in the Company's equity share capital to 45% with requisite and overwhelming majority. Thus, with effect from 10th April, 2007, the limit of investment by FIIs in the Company's equity share capital stands increased to 45% of the paid-up capital."

The stock was trading at Rs.558.30, up by Re.0.70 or 0.13%. The total traded quantity was 409947 shares at an average price of Rs.561.33 resulting in a turnover of Rs.2301.16 lakhs. The stock hit an intraday high of Rs.569.40 and low of Rs.520.

Source : Equity Bulls

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