Shares of Jaiprakash Associates Ltd (JP Associates) fell for second consecutive day with Tuesday morning’s fall at 3 percent after media reports suggested that Icici Bank has filed an insolvency case against the company.
The stock hit a 52-week low of Rs 10.21. Shares of the company had closed 4 percent lower in the previous session. The stock has lost 4.38 percent in the past one month.
The debt-ridden company owes ICICI Bank Rs 1,500 crore, CNBC-TV18 reports.
At 09:19 hrs, Jaiprakash Associates was quoting at Rs 10.26, down 3.93 percent from the previous close.
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