Ace investor Rakesh Jhunjhunwala has bought 1.03 per cent stake (2.50 crore equity shares) in Jaiprakash Associates and 1.26 per cent stake (20 lakh shares) in Jubilant Life during April-June quarter of FY18. Shares of Jaiprakash associates and Jubilant Life rose 15 per cent and 3 per cent respectively in the early trade on Friday.
In the last 3-month the Jaiprakash Associates' share price rose nearly 83 percent, while in the last 6-month the share surged by 133 per cent. In the last 1-year Jubilant Life Sciences share price gained more than 136 percent. Jaiprakash Associates has touched a 52-week high of Rs 26.50.
UltraTech Cement has completed the acquisition of Jaiprakash Associates’ six integrated cement plants and five grinding units with a capacity of 21.2 million tonnes in June for Rs. 16,189 crore.
Jubilant Life Sciences on July 18 reported a 12.32 per cent fall in its consolidated net profit to Rs 143.71 crore for the quarter ended on June 30, 2017. It had registered a net profit of Rs 163.92 crore for the corresponding period of the previous financial year.
