negative
JP Power retreats 8.5% after two-day rally as investors book profits following Adani-led resolution progress
Shares of Jaiprakash Power Ventures fell sharply on November 21, declining 8.5% to ₹19.79 on the BSE after a strong two-session rally. The pullback came amid heavy profit booking and elevated trading volumes. JP Power had surged 29% over the previous two days after Adani Enterprises secured creditor approval for its ₹14,535-crore acquisition proposal for Jaiprakash Associates (JAL), which is undergoing insolvency proceedings. Adani received 89% creditor votes, ahead of Dalmia Cement and Vedanta, and has been issued a Letter of Intent .
With JAL holding about a 24% stake in JP Power, markets earlier anticipated that a financially stronger sponsor could unlock additional value for the power business, triggering the brief rally before today’s correction.
Companies:
- Jaiprakash Power Ventures
- Jaiprakash Associates
- Adani Enterprises
- Dalmia Cement
- Vedanta
Tags:
- stocks
- JP Power
negative
JP Power retreats 8.5% after two-day rally as investors book profits following Adani-led resolution progress
Shares of Jaiprakash Power Ventures fell sharply on November 21, declining 8.5% to ₹19.79 on the BSE after a strong two-session rally. The pullback came amid heavy profit booking and elevated trading volumes. JP Power had surged 29% over the previous two days after Adani Enterprises secured creditor approval for its ₹14,535-crore acquisition proposal for Jaiprakash Associates (JAL), which is undergoing insolvency proceedings. Adani received 89% creditor votes, ahead of Dalmia Cement and Vedanta, and has been issued a Letter of Intent .
With JAL holding about a 24% stake in JP Power, markets earlier anticipated that a financially stronger sponsor could unlock additional value for the power business, triggering the brief rally before today’s correction.
Companies:
- Jaiprakash Power Ventures
- Jaiprakash Associates
- Adani Enterprises
- Dalmia Cement
- Vedanta
Tags:
- stocks
- JP Power
Breaking
negative
JP Power retreats 8.5% after two-day rally as investors book profits following Adani-led resolution progress
1 min read
115 words
JP Power dropped 8.5% after a sharp two-day surge, as profit booking followed Adani’s creditor-approved bid for JAL and shifting expectations around future value unlocking.
Shares of Jaiprakash Power Ventures fell sharply on November 21, declining 8.5% to ₹19.79 on the BSE after a strong two-session rally. The pullback came amid heavy profit booking and elevated trading volumes. JP Power had surged 29% over the previous two days after Adani Enterprises secured creditor approval for its ₹14,535-crore acquisition proposal for Jaiprakash Associates (JAL), which is undergoing insolvency proceedings. Adani received 89% creditor votes, ahead of Dalmia Cement and Vedanta, and has been issued a Letter of Intent .
With JAL holding about a 24% stake in JP Power, markets earlier anticipated that a financially stronger sponsor could unlock additional value for the power business, triggering the brief rally before today’s correction.
Shares of Jaiprakash Power Ventures fell sharply on November 21, declining 8.5% to ₹19.79 on the BSE after a strong two-session rally. The pullback came amid heavy profit booking and elevated trading volumes. JP Power had surged 29% over the previous two days after Adani Enterprises secured creditor approval for its ₹14,535-crore acquisition proposal for Jaiprakash Associates (JAL), which is undergoing insolvency proceedings. Adani received 89% creditor votes, ahead of Dalmia Cement and Vedanta, and has been issued a Letter of Intent .
With JAL holding about a 24% stake in JP Power, markets earlier anticipated that a financially stronger sponsor could unlock additional value for the power business, triggering the brief rally before today’s correction.
Companies:
- Jaiprakash Power Ventures
- Jaiprakash Associates
- Adani Enterprises
- Dalmia Cement
- Vedanta
Tags:
- stocks
- JP Power
- stocks
- JP Power
- Adani Enterprises
- JAL
- market correction