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Jaiprakash Associates Up on good Q1 numbers

July 16, 2007

Jaiprakash Associates posted 54.34% rise in net profit to Rs 140 crore in the Q1 June 2007 compared to Rs 92 crore in Q1 June 2006. Total income increased 8.76% to Rs 1,005 crore in Q1 June 2007 compared to Rs 924 crore in Q1 June 2006.

A few month back, Reserve Bank of India (RBI) had allowed foreign institutional investors (FIIs) to buy equity shares and convertible debentures of Jaiprakash Associates up to 45% of its paid-up capital.

The current market price of Rs 873.10 discounts its FY 2007 EPS of Rs 18.9, by a PE multiple of 46.19.

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