Sharemasterindia.com: Shares in heavily leveraged companies such as Unitech, Jaiprakash Associates traded on a mixed note on Thursday, a day after crashing by 30-50 per cent.
Unitech, which has a debt of around Rs 8,400 crore, was up 3.7 per cent at Rs 9.02 as of 10 a.m.
Jaiprakash Associates traded 1.15 per cent higher at Rs 13.20, but another group company Jaiprakash Power Ventures was down 4 per cent at Rs 6.24. Jaiprakash has been selling assets in recent quarters to cut its heavy debt load and improve balance sheet. The group has initiated steps for disinvestment of assets of over Rs 22,000 crore which are on track to be completed by September, the company said in the statement.
Jaiprakash Associates has a total debt of around Rs 72,500 crore.
Suzlon, which is also struggling under huge debt, traded 1.4 per cent higher at Rs 21.10.
Shares in Anil Ambani companies, also under huge debt, extended losses, however. Reliance Communications was down 3 per cent, while Reliance Power traded 1.3 per cent lower.
Among other beaten down stocks, GMR Infra was down 4.2 per cent at Rs 12.45. The company has debt of around Rs 45,000 crore.
Meanwhile, the broader markets traded on a flat note; the BSE Sensex was down 45 points or 0.2 per cent at 26,792.
