Jaiprakash Associates has been in the limelight past couple of days. Yesterday too, it breached the UC at Rs.24 and today too, it breached the UC at Rs.25.35 and hit a new high at Rs.26.50.

The stock is up on news that Rakesh Jhunjhunwala has picked up 2.5 crore shares, or 1% stake in the company during the June quarter.

Jhunjhunwala is like the Midas touch; the moment he announced buying stake in any company, the stock price spurts up.