Jaypee, Reliance Group stocks in focus amid UP results
Shares of the companies with significant business presence in Uttar Pradesh were in focus in the morning trade on the bourses today, as investors tracked state election results.india Updated: Mar 06, 2012 12:47 IST
Shares of the companies with significant business presence in Uttar Pradesh were in focus in the morning trade on the bourses on Tuesday, as investors tracked state election results.
Jaiprakash group companies -- Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech -- showed mixed trend in a volatile stock market, which opened weak but turned green as results poured in.
Jaiprakash Associates was up 0.43% at Rs 70.65, while Jaiprakash Power Ventures fell by 1.45% to quote at Rs 40.65 on the BSE.
The group's another listed company Jaypee Infratech jumped 1.26% to Rs 44.30.
Market experts said that Jaypee group has emerged as a major player in the state during the past few years and any regime change could affect its business in the near term.
On the other hand, shares of Anil Ambani-led Reliance Group companies, Reliance Power and Reliance Infrastructure, were trading with losses.
Shares of Reliance Infra went down by 0.29% at Rs 654.25, while Reliance Power lost 1.59% to Rs 133.20 in the morning trade.
In the broader market, the BSE barometer Sensex was trading over 111 points up at 17,477.92 at 1028 hours.
Samajwadi Party was way ahead of others in Uttar Pradesh leading in 141 seats, while BJP sprang a surprise as it was leading in 65 constituencies in the 403 member Assembly.
Ruling BSP was left way behind, leading only in 62 seats while Congress-RLD combine managed to lead only in 42 constituencies.
As per the trends available for 323 seats, at 10am, SP was leading in 141 seats.
Counting is underway for elections results in five states -- Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur.