Shares of Jaypee Infratech are locked at the upper circuit on October 10 after there have been reports of the government waiving off the tax claims against the company.
The government is likely to waive off the tax claims of Rs 33,000 crore against Jaypee. The tax department’s claim of Rs 33,000 crore pending tax dues is not tenable, government sources told to CNBC-TV18.
There were pending buy orders of 643,382 shares, with no sellers available.
The share price declined 47 percent in the last six months.
At 11:55 hrs, Jaypee Infratech was quoting at Rs 1.22, up Rs 0.05 or 4.27 percent, on the BSE.
News Source: Moneycontrol