Jaiprakash Power Ventures Ltd.JPPOWER₹22.59 +19.21%

Shares of Jaiprakash Power Ventures Ltd. surged up to 20% on Monday, July 7, reaching an intraday high of ₹22.74. 

The rally follows media reports suggesting that Adani Group has emerged as the lead bidder to acquire JP Associates, the parent company of JP Power. According to reports, Adani’s bid is pegged at ₹12,500 crore, with over ₹8,000 crore proposed as an upfront payment.

JP Associates holds a 24% stake in JP Power. JP Associates is currently undergoing insolvency proceedings after defaulting on loans worth over ₹57,000 crore. The company was admitted into the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Allahabad Bench, through an order dated June 3, 2024.

According to media reports, A total of five companies, including Adani Enterprises, Vedanta Group, Dalmia Bharat, Jindal Power, and PNC Infratech, are reported to have submitted resolution plans for JP Associates.

Over the last three years, Jaiprakash Power Ventures has given mulitbagge returns of more than 260%.

Let’s take a look at its Factor Analysis scores:

Note: The stock price mentioned is as of 3:15 PM.

Disclaimer

Investments in securities market are subject to market risks, read all the related documents carefully before investing. This is for informational purposes and should not be considered as recommendations.

Kindly refer to  https://share.market/ for more details.

PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887, and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. 

Registration granted by SEBI, enlistment as Research Analyst, and Certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors

Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.