Jaypee Infra has always been volatile, hitting lower and upper circuits consistently. The stock price today hit the 10% UC at Rs.1.78.
The stock price has surged today on news that NBCC has emerged as the clear winner to acquire, with 97.36% vote share, the struggling Jaypee Infratech, approved by the Committee of Creditors (CoC).
Of the total 21,781 homebuyers, who are part of the CoC, 12,147 voted in favour of NBCC, which is 97.02% while 2.98% voted against.
This win by NBCC is being viewed, for now as positive but we need to wait and see at the end what would be the stake of the retail shareholders in the company.