Jaypee Infratech share price plunged as much as 5.77 per cent on Tuesday after the National Consumer Disputes Redressal Commission (NCDRC) directed Jaypee Group to hand over possession of Kalypso Court project in Noida by July 21, 2016, or pay penalty of Rs 5,000 per flat per day till the project is completed.
At 11.28 am, shares of Jaypee Infratech were trading 4.62 per cent down at Rs 6.61. The scrip opened the day at Rs 6.89 and has touched a high and low of Rs 6.89 and Rs 6.53, respectively, in trade so far.
NCDRC also directed to pay interest of 12 per cent per annum on the amount deposited by the respective complainants with effect from 39 months from the date of respective provisional allotment letters, till the actual physical possession is handed over by the company.
The builder was also directed the company to provide adequate car parking spaces in the project and refund the excess amount, if any.
For the quarter ended December 2015, Jaypee Infratech reported net loss of Rs 20.69 crore against net profit of Rs 96.89 crore in the same quarter a year ago.
Later, the share price of the company settled 2.74 per cent down at Rs 6.74.
