This Article is From Sep 25, 2014

Citi Global Sells Rs 34-Crore Jaiprakash Associates Shares

Citi Global Sells Rs 34-Crore Jaiprakash Associates Shares

New Delhi: Citigroup Global Markets Mauritius on Thursday sold Jaiprakash Associates shares worth over Rs 34 crore.

More than 1.25 crore shares of the company were offloaded through a bulk deal, data available with National Stock Exchange (NSE) showed.

These shares were sold at a price of Rs 27.34 apiece.

Shares in Jaiprakash group of companies fell as much as 19 per cent on Thursday after Reliance Power's talks to acquire Jaiprakash Power Ventures' three hydropower projects were called off.

Jaiprakash Associates' stock plunged 19.15 per cent to settle at Rs 25.75 on the BSE.

Jaiprakash Power Ventures Ltd shares tanked 13.92 per cent to end at Rs 11.75. Similarly, Jaypee Infratech dropped 13.45 per cent to Rs 19.95.     

The group's cumulative market valuation dropped by Rs 1,791.35 crore to Rs 12,486.65 crore.