Jaiprakash shares fall on profit booking after asset sale

Shares of Jaiprakash Power Ventures Ltd dropped on profit-taking after agreeing to sell two hydroelectric power plants to a consortium led by Abu Dhabi National Energy in a deal worth about $1.6 billion.

Jaiprakash Power Ventures shares had surged 12.2 percent on Friday in anticipation of the deal, bringing its gains in February to 27.8 percent, well beyond the 3.1 percent monthly gain in the broader Nifty.

Jaiprakash Power Ventures shares were down nearly 8 percent at 9.33 a.m. Parent Jaiprakash Associates Ltd fell 2.5 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Faith is the opium of the masses, so Indians get addicted

    India is a nation of 1.27 billion. Let that number sink in, with all its zeroes. That’s a lot of people.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

Bubbles Sabharwal

When your real & reel life heroes are the same

ALL the world’s a stage and we all are merely ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture