 "Jaiprakash Power jumps ahead of board meeting")
Jaiprakash Power Ventures rose 7.72% to Rs 6 at in morning deals on the Bombay Stock Exchange (BSE) after the company said that its board will meet on 18 July to consider the proposal to hive-off and transfer Jaypee Bina thermal power plant.
The announcement was made after market hours on Tuesday. Meanwhile, the BSE Sensex was up 52.81 points, or 0.19%, to 27,860.95 .
On BSE, around 7.96 lakh shares were traded in the counter in morning deals, compared with an average volume of 4.66 lakh shares in the past one quarter. The stock hit a high of Rs 6.07 and a low of Rs 5.65 so far during the day.
The company will announce its Q1 results on 18 July 2016. It had reported net loss of Rs 352.85 crore in the March 2016 quarter, as against net loss of Rs 141.54 crore in the previous corresponding period. Net sales declined 26.62% to Rs 669.01 crore in Q4 March 2016 over Q4 March 2015.
Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.
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