Jaiprakash Associates rose 2.62% at Rs. 97.80 at 12:39 IST as the company's cement shipments rose 22% to 1.56 million tonnes in March 2011 over March 2010.
Meanwhile, the BSE Sensex was up 196.50 points, or 1.01%, to 19616.89.
On BSE, 10.54 lakh shares were traded in the counter as against an average daily volume of 23.80 lakh shares in the past one quarter.
The stock hit a high of Rs. 98 and a low of Rs. 95 so far during the day. The stock had hit a 52-week high of Rs. 162.85 on 26 April 2010 and a 52-week low of Rs. 70.25 on 9 February 2011.
The stock had outperformed the market over the past one month till 1 April 2011, gaining 14.82% compared with the Sensex's 5.28% rise. The scrip had however underperformed the market in past one quarter, sliding 10.01% as against 5.31% decline in the Sensex.
The large-cap engineering and construction firm which also has interests in hospitality, power and cement, has an equity capital of Rs. 425.29 crore. Face value per share is Rs. 2.
Jaiprakash Associates has capacity to produce 21.3 million tonnes of cement a year.
Jaiprakash Associates' net profit surged 125.8% to Rs. 232.66 crore on 0.5% rise in net sales to Rs. 2893.71 crore in Q3 December 2010 over Q3 December 2009.
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