 "Thermal power plant")
Shares of Jaiprakash Power Ventures rose 7.72% to Rs 6 at 10:25 IST on BSE after the company said that its board will meet on 18 July 2016 to consider the proposal to hive-off and transfer Jaypee Bina thermal power plant.
On BSE, so far 7.96 lakh shares were traded in the counter, 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 stock hit a 52-week high of Rs 8.42 on 7 August 2015.
The stock hit a record low of Rs 3.65 on 2 June 2016. The stock had outperformed the market over the past one month till 12 July 2016, 23.50% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 18.01% as against Sensex's 10.59% rise.
The small-cap company has an equity capital of Rs 2938 crore. Face value per share is Rs 10.
Jaiprakash Power Ventures announced that its board will meet on 18 July 2016 to consider the proposed scheme of arrangement for hive-off and transfer of 500 megawatts (MW) Jaypee Bina thermal power plant of the company to its subsidiary company.
Jaiprakash Power Ventures will announce Q1 results on 18 July 2016. The company reported net loss of Rs 352.85 crore in Q4 March 2016 as against net loss of Rs 141.54 crore in Q4 March 2015. Net sales declined 26.62% to Rs 669.01 crore in Q4 March 2016 over Q4 March 2015.
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