Market Now: JP Associates, GMR Infra among most traded stocks in a cautious market
NEW DELHI: With 1.57 crore shares changing hands, JP Associates stood among the most traded stocks on NSE in Friday’s trade.
Jaiprakash Associates (JAL) hogged limelight after UltraTech Cement completed the Rs 16,189 crore acquisition of the company’s six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.
The deal will help the Jaypee Group to reduce debt, which runs into thousands of crores of rupees. JP Associates had last year announced the sale of its cement business to the Kumar Mangalam Birla-led Ultratech, making the biggest consolidation in the cement sector.
Other stocks in the club of most traded stocks includes GVK Power Infra, Suzlon Energy, GMR Infra, Videocon Ind, Unitech, Amtek Auto and Reliance Communications.
Benchmark Nifty50 index was 18.1 points down at 9,486, while the 30-share BSE Sensex was down 45.56 points at 30,811.96 around 11:25 am (IST).
In the Nifty50 pack, 16 stocks were trading in green including Sun Pharmaceutical Industries, Bank of Baroda, Aurobindo Pharma, ITC, Dr. Reddy’s Laboratories, Cipla and Power Grid.
However, 35 stocks including Larsen & Toubro, Indiabulls Housing Finance, Tata Motors and Bharti Airtel were in red.
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Via:: Economic Times – Stocks