Jaiprakash Power drops over 14% on divestment - The New Indian Express

Jaiprakash Power drops over 14% on divestment

Published: 03rd March 2014 05:19 PM

Last Updated: 03rd March 2014 05:19 PM

Jaiprakash Power Ventures, a part of India's leading infrastructure conglomerate Jaypee Group, dropped on Monday after the company's board of directors accepted the recommendation for divestment of the two of the company's operating plants namely, 300 MW Hydro-Electric Plant and 1091 MW Karcham Wangtoo Hydro-Electric Plant to a consortium led by Abu Dhabi National Energy Co, TAQA.Shares ofthe companyare trading at Rs 14.15, down Rs 2.42, or 14.60% at the Bombay Stock Exchange (BSE) on Monday at 11:35 a.m.The scrip has touched an intra-day high of Rs 17.70 and low of Rs 13.70. The total volume of shares traded at the BSE is 4,398,698.In the earlier session, the shares climbed 12.26%, or Rs 1.81, at Rs 16.57. Currently, the stock is trading down 53.76% from its 52-week high of Rs 30.60 and above 65.5% over the 52-week low of Rs 8.55.

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