JP Associates is said to owe nearly Rs 1,500 crore to ICICI Bank, the report further added.
Moneycontrol News
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Shares of Jaiprakash Associates closed 4 percent lower on Monday as investors reacted to news that an insolvency case has been filed against the company.
The stock touched an intraday high of Rs 11.33 and an intraday low of Rs 10.52.
CNBC-TV18 on September 10, 2018 reported that ICICI Bank had filed an insolvency case against the company. It quoted news agency Cogencis as the source for this information.
JP Associates is said to owe nearly Rs 1,500 crore to ICICI Bank, the report further added.
The stock has fallen 29 percent in the past one month, while in the past three days, it fell over 7 percent.
At the close of market hours, Jaiprakash Associates was quoting at Rs 10.68, down Rs 0.41, or 3.70 percent. It touched a 52-week low of Rs 10.52.First Published on Sep 10, 2018 05:14 pm