MV SCIF Mauritius has picked 0.54% stake in Jaiprakash Associates for Rs 162.53 million. It has purchased 13.16 million shares at a price of Rs 12.35 a share on the National Stock Echange (NSE).

Jaiprakash Associates (JAL) is an India-based diversified infrastructure conglomerate. JAL's business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.

Shares of the company gained Rs 0.35, or 2.82%, to trade at Rs 12.75. The total volume of shares traded was 1,481,624 at the BSE (11.35 a.m., Monday).