Jaiprakash Associates repurchases US$1 million worth FCCBs

Jaiprakash Associates Ltd has announced that in accordance with the press release from the RBI dated December 06, 2008 and relevant policy, as amended from time to time, Jaiprakash Associates Ltd ("the Company") has repurchased and extinguished the zero coupon convertible bonds aggregating to the face value of USD 1,000,000. Further purchases will be effected subject to various guidelines as applicable for such buy back.

The stock was trading at Rs.94.45, down by Rs.3.10 or 3.18%. The stock hit an intraday high of Rs.95.20 and low of Rs.90.30.

The total traded quantity was 2431491 compared to 2 week average of 7174471.

Source : Equity Bulls

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