JP Power shares rally over 17% on Adani bid buzz for JP Associates

Shares of Jaiprakash Power Ventures (JP Power) surged over 17% to Rs 22.25 in Monday’s intraday trade on the BSE

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The Shares of a power company jumped over 18% after reports said the Adani Group is likely to buy its parent firm for Rs 12,500 crore

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Investors expect the deal to benefit the company, as the parent holds a big stake and the businesses fit well with Adani’s plans.

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With a market capitalization of Rs 15,208 Crores, the share price of Jaiprakash Power Venture Limited was trading over 18% up to hit an intraday high

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The proposed deal includes over Rs 8,000 crore in upfront payment and is part of the insolvency process, with creditors claiming over Rs 57,000 crore

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