JP Associates hits 10% UC

The moment it opened for trading, JP Associates hit the 10% UC at Rs.1.94. Its 52-week high and low is at Rs.7.15 and Rs.1.47 respectively.

The market is happy that officially the Yamuna Expressway project is finally closed.

The company informed the exchange that it has received a letter dated 12/2/2020 from Yamuna Expressway Industrial Development Authority (YEIDA) conveying its decision of having cancelled the allotment of land made by it in the year 2008 to erstwhile JPSK Sports Private Limited (later renamed as Jaypee Sports International Limited and now known as M/ s. Jaypee International Sports, a division of the Company, post merger of the same with JAL in October 2015).

The market is happy because this cancellation is happening without affording any opportunity to the Company and in arbitrary and illegal manner.