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E-mail ID will not be published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

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

Varun Dutt

CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture