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Jaiprakash Associates:
Shares of the company gained Rs 4.75, or 4.32%, to settle at Rs 114.70. It touched a high of Rs 114.90 and a low of Rs 111.50. Jaiprakash Associates
Jaiprakash Associates has reported a sales turnover of Rs 32.15 billion and a net profit of Rs 5.16 billion for the quarter ended Jun 2010. For the quarter ended Jun 2009 the sales turnover was Rs 21.17 billion and net profit was Rs 4.92 billion. One can expects more than Rs 60 billion from the cement division in FY11. There was a very strong demand in last two years in the northern part, especially because of Commonwealth Games. In the North, there has been some price moderation. If you compare from the peak of pricing in April and May, it is down by almost Rs 25-30 for each bag. That is more in the North and not spread in other parts of the country. We recommend to `Buy` this stock with price target of Rs 132 with medium term horizon
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