Jaiprakash Power surges on plant sale expectations

Shares in Jaiprakash Power Ventures Ltd surged on Friday, fuelled by market expectations that it could soon strike a $2-billion deal to sell two power plants to a group led by Abu Dhabi National Energy Co.

Sources told Reuters this month that Abu Dhabi National Energy, majority-owned by the Abu Dhabi government, was looking to buy two hydropower plants owned by Jaiprakash Power in the north Indian state of Himachal Pradesh.

On Friday, the Indian company said its board would meet on Saturday to consider recommendations for cutting debt and boosting shareholder value.

Both Jaiprakash and the Abu Dhabi company declined to comment on Friday.

Shares in Jaiprakash Power gained as much as 12.5 percent, while shares in parent Jaiprakash Associates were up 4.2 percent, moves traders said were driven by expectations for a deal.


  • EPFO would do well to have better risk management of available cash

    The Employees’ Provident Fund Organisation (EPFO) is apparently revisiting its decision to invest about Rs 6,000 crore in stocks this year.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Zehra Naqvi

The prejudiced childhood

Sometimes the most unusual things can remind you of the ...

Gautam Gupta

To read about online videos, click here

ONce, not so long ago, exhorbitant costs had made sure ...


William D. Green

Chairman & CEO, Accenture