JP group leads losers

The entire JP group is on the decline today, led by JP Associates, down almost 16%, breaching the lower circuit at Rs.38.90. Jaypee Infra is the second biggest loser, down over 15%.

JP Associates is down, reacting to selling of its over 13 million shares by JP Infra on the NSE through a bulk deal at Rs.46.33/share. There is a sense of unease on the counter at the moment, as concerns over  debt and now this sale has spooked the traders. For short term, most analysts have given an exit call on the stock.