Shares of Jaiprakash Associates ended nearly 10 per cent lower today after the Supreme Court refused permission to the company to hive-off the rights of the Yamuna Expressway.
The stock tumbled 9.90 per cent to end at Rs 18.20 on BSE. During the day, it plummeted 12.37 per cent to Rs 17.70.
At NSE, shares of the company plunged 9.90 per cent to close at Rs 18.20.
Shares of Jaypee Infratech also fell by 4.49 per cent to end at Rs 13.82 on BSE. Intra-day, it declined 5.32 per cent to Rs 13.70.
The Supreme Court yesterday refused permission to embattled Jaiprakash Associates Ltd to hive-off the rights of multi-crore six-lane Yamuna Expressway connecting Greater Noida with Agra in Uttar Pradesh.
The apex court, however, extended the time from October 27 to November 5 for the company to deposit Rs 2,000 crore.
Jaiprakash Associates Ltd (JAL) had approached the apex court seeking to hive-off the rights of Yamuna Expressway and modification or recall of the September 11 order relating to deposit of Rs 2,000 crore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)