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Published on 3/03/2021 3:38:03 PM | Source: Accord Fintech

Jaiprakash Power Ventures jumps on getting nod to divest 74% stake in Jaypee Powergrid

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Jaiprakash Power Ventures is currently trading at Rs. 3.04, up by 0.07 points or 2.36% from its previous closing of Rs. 2.97 on the BSE.

The scrip opened at Rs. 3.06 and has touched a high and low of Rs. 3.10 and Rs. 2.94 respectively. So far 8366915 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 4.26 on 14-Dec-2020 and a 52 week low of Rs. 0.54 on 26-Mar-2020.

Last one week high and low of the scrip stood at Rs. 3.10 and Rs. 2.74 respectively. The current market cap of the company is Rs. 2083.45 crore.

The promoters holding in the company stood at 26.07%, while Institutions and Non-Institutions held 36.72% and 37.21% respectively.

Jaiprakash Power Ventures’ (JPVL) board has approved disinvestment of 74% shareholding in the Jaypee Powergrid (A Joint Venture Company of Power Grid Corporation of India and the Company). The Share Purchase Agreement (SPA) yet to be executed. The said transaction is expected to be completed by March 31, 2021. The Board of Directors of the company in its Meeting held on March 2, 2021 has approved the same.

Jaiprakash Power Ventures is engaged in the business of generation of power, cement grinding and captive coal mining.

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