Unitech, JP Associates, GVK Power, Shree Renuka Sugars hit 52-week high
STOCK MARKET - Unitech, Jaiprakash Associates, Jaypee Infratech, Shree Renuka Sugars, South Indian Bank and Future Enterprises are among 30 stocks from the S&P BSE Smallcap index hitting their respective 52-week high on BSE on Monday. At 10:41 am; the S&P BSE Smallcap index was up 0.60% at 16,088, as compared to 0.55% rise in the S&P BSE Sensex. The index hit a new high of 16,097 on BSE in intra-day trade today. Jaypee Infratech, Unitech, GVK Power & Infrastructure, Shree Renuka Sugars and Jaiprakash Associates have rallied more than 50% in the last one month.
GVK Power & Infrastructure has soared 17% to Rs 11.69, extending its Friday’s 20% surge on the BSE. On July 21, 2017 Equity Intelligence India Private Limited [P M S] bought 18.8 million shares representing 1.19% stake in GVK Power & Infrastructure at Rs 9.61 per share on the NSE, the bulk deal data shows. Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India. Jaypee Group Companies – Jaypee Infratech, Jaiprakash (JP) Power Ventures and Jaiprakash Associates – have rallied by up to 20% on BSE on back of heavy volumes. JP Associates rallied 8% to Rs 28.75, extending its previous day’s 15% surge. In past four trading sessions, it zoomed 32% from Rs 21.85 on July 18, after the construction & engineering company said Rakesh Jhunjhunwala bought the stake in the company. According to shareholding pattern filed by the Jaiprakash Associates' for the quarter ended June 2017, Rakesh Jhunjhunwala has bought 25 million or 1.03% stake in the company during April-June quarter. Rakesh Jhunjhunwala held nil holding in the company at the end of March quarter, data shows. Unitech, too soared 9% to Rs 9.20 on BSE. Thus far in the month of July, the stock of real estate developer surged 54% as compared to 4% rise in Sensex. Manish Lakhi has bought 30.15 million or 1.13% stake in Unitech during April-June quarter, according to latest shareholding pattern filed by the company. Manish Lakhi held nil holding in previous quarter. GET UPDATES ON SHARE MARKET
ARTICLE SOURCE – BUSINESS STANDARD