Non-payment of NCDs pulls JP Associates down by 0.93%
Avalokita Pandey / 27 Jan 2017
In a recent development, Jaiprakash Associates (JP) has informed NSE that the principal instalment and interest in respect of 11.75 per cent non-convertible debentures remains unpaid for more than three months as on January 26, 2017.
In a recent development, Jaiprakash Associates (JP) has informed NSE that the principal instalment and interest in respect of 11.75 per cent non-convertible debentures remains unpaid for more than three months as on January 26, 2017.
The announcement published on the National Stock Exchange (NSE) may be read in consonance with disclosures dated February 28 2016, February 29 2016, July 4 2016 and October 6 2016. In these announcements, the company has informed about the disinvestment initiatives being undertaken to deleverage its balance sheet and improve its cash flows for timely servicing of its debt obligations.
Jaiprakash Associates Ltd is currently trading at Rs 10.61, down by 1.21 per cent from its previous closing of Rs 10.73 on the BSE. However, in last one month, the share price of the company has given more than 48 per cent return to its shareholders.
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