Meanwhile, the BSE Sensex was down 37.54 points, or 0.22%, to 16,844.62.
On BSE, 14.74 lakh shares were traded in the counter as against an average daily volume of 21.84 lakh shares in the past one quarter.
The stock hit a high of Rs 71.05 and a low of Rs 69.30 so far during the day. The stock had hit a 52-week high of Rs 88.90 on 3 April 2012. The stock had hit a 52-week low of Rs 50.45 on 9 January 2012.
The stock had outperformed the market over the past one month until 25 June 2012, rising 13.73% compared with the Sensex's 4.10% rise. The scrip had, however, underperformed the market in past one quarter, falling 12.51% as against 2.76% fall in the Sensex.
The large-cap infrastructure company has an equity capital of Rs 425.29 crore. Face value per share is Rs 2.
According to report, the Aditya Birla Group and Jaiprakash Associates (JP Associates) are in direct talks and negotiations have advanced considerably. Report suggests that JP Associates' cement business could potentially be valued at $1 billion (around Rs 5700 crore).
JP Associates' plan to sell stake in its cement business is reportedly aimed at reducing debt. An infusion of fresh cash would revive the company's finances, reports suggest.
Shares of cement makers came under pressure last week after Competition Commission of India (CCI) on 21 June 2012, imposed a whopping Rs 6307 crore fine on 11 leading cement makers, including JP Associates, for allegedly forming a price cartel.
The cement manufacturers upon whom the penalty has been imposed are ACC, Ambuja Cements, UltraTech Cements, Grasim Cements (now merged with UltraTech Cements), JK Cements, India Cements, Madras Cements, Century Cements, Binani Cements, Lafarge India and Jaypee Cements.
Jaiprakash Associates' net profit fell 6.5% to Rs 283.81 crore on 3.1% growth in net sales to Rs 4026.35 crore in Q4 March 2012 over Q4 March 2011.
Jaiprakash Associates is an engineering and construction firm. The company also has interests in hospitality and power sectors besides cement.
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