&w=3840&q=100)
Smallcap power stock soars 16% on huge volumes; zooms 74% in 2 months
The stock price of the smallcap power generation company is trading close to its 52-week high level of ₹23.77 touched on October 10, 2024. In comparison, the BSE Sensex was down 0.08 per cent at 83,367 at 12:23 PM.
The average trading volumes on the counter jumped over 7-fold. A combined 588 million shares representing 8.6 per cent of the total equity of JP Power have changed hands on the NSE (525 million) and BSE (63 million).
In the past two weeks, the stock price of JP Power has appreciated by 30 per cent, while in two months it zoomed 74 per cent from ₹12.6 on May 7, 2025.
Jaiprakash Associates is the promoter of JP Power and holds a 24 per cent stake. Shares of Jaiprakash Associates have been locked in the 5 per cent upper circuit at ₹3.22 on the BSE. Track LIVE Stock Maket Updates Here
What's driving JP Power stock price?
The Adani group has emerged as the frontrunner to acquire Jaiprakash Associates, which is currently undergoing insolvency proceedings, with a bid of up to ₹12,500 crore, the Business Standard reported, quoting people familiar with the matter on Thursday.
Rival bidder Dalmia group is also in the fray and is willing to top Adani's offer, provided a key legal hurdle related to JAL's Sports City project is resolved. The case is currently pending before the Supreme Court. CLICK HERE FOR FULL REPORT
Meanwhile, India Ratings and Research (Ind-Ra) in rationale said that the rating agency notes that JP Power's promoter JAL is under Corporate Insolvency Resolution Process (CRIP). The agency does not expect JAL's CRIP to have a material impact on JPVL's balance sheet; however, the outcome of the same shall remain a key monitorable for the agency.
Opportunities in Indian power sector
JP Power is primarily engaged in the generation of power and thus has only one segment. The company has Amelia (North) Coal Mine which is for captive consumption. Last year, the company received 'Right of Exploration' in respect Banda (North) Coal Block on which exploration work is going on. The turnover from Cement Grinding was Nil.
JP Power in its FY25 annual report said that the Indian power sector in FY2024-25 presents a multitude of opportunities driven by increasing energy demand, rapid technological advancements, and strong government support for clean energy transition.
India aims to install 500 Gigawatt (Gw) of non-fossil fuel capacity by 2030, paving the way for growth in solar, wind, and hydroelectric power projects. The Green Hydrogen Mission, with an outlay of ₹19,744 crore, is another lucrative avenue, offering scope for electrolyser manufacturing and hydrogen production for industries like steel, cement, and transportation.
Additionally, the approval of ₹60,676 crore worth of inter-state transmission projects enhances prospects for private sector participation in strengthening grid infrastructure, ensuring efficient renewable energy integration. These initiatives, along with attractive policy incentives like Production-Linked Incentives (PLI) for solar manufacturing and viability gap funding for battery energy storage, further boost investor confidence in the sector.
Meanwhile, JP Power plans to incur capex of ₹1,500 crore over FY25-FY27 for the installation of flue-gas desulfurization (FGD) unit at Nigrie and Bina thermal power plants and ₹760 crore towards Bandha North coal mine over FY25-FY29. The capex is likely to be funded by internal accruals. The company's ability to execute both the capex projects with internal accruals shall remain a key monitorable, Ind-Ra said in January 2025 rating rationale.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
20 minutes ago
- Economic Times
Titan shares in focus after Q1 update as consumer business grows 20% YoY and 10 new stores added
Titan Company saw a 20% year-on-year growth in its consumer business for Q1FY26. The company added 10 stores, expanding its network to 3,322 outlets. Synopsis Titan Company's shares are in focus following a reported 20% YoY growth in its consumer business for Q1FY26. Domestic jewellery operations saw an 18% increase, though gold price volatility impacted consumer sentiment. Watch business experienced a strong 23% YoY growth, while EyeCare grew by 12%. International business surged by approximately 49%, driven by Tanishq's expansion in the US market. Shares of Titan Company will be in focus on Tuesday after the lifestyle major reported a 20% year-on-year (YoY) growth in its consumer business for Q1FY26, along with a net addition of 10 stores, expanding its retail network to 3,322 outlets. ADVERTISEMENT The company's domestic jewellery operations grew 18% YoY, although consumer sentiment was impacted by gold price volatility during the quarter. While the Akshaya Tritiya period saw good traction, the increase in gold prices from May till mid-June, saw some softening in customer purchases, a company filing to the exchanges said. Buyer growth was flat (YoY) for both TMZ and CaratLane. In the high gold rate scenario, customers preferred light weight and lower karatage jewelry. "The studded ratio came in lower YoY driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits. The like-to-like (L2L) domestic sales growth in TMZ were in early double digits, driven entirely by ticket size growth across formats, and the L2Ls in CaratLane were in healthy double-digits. Of the 19 new store additions (net) in India, 3 were in Tanishq, 7 in Mia and 9 in CaratLane respectively," the filing said. Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70% ADVERTISEMENT Watches domestic business clocked a strong quarter of 23% YoY growth led by analog driven by both volume and value growth. Sonata with its refreshed offerings led the growth charts for the quarter, closely followed by Titan and well supported by Fastrack and International brands, all clocking healthy double-digit growths. The division added 9 new stores (net) consisting of 4 stores in Titan World and 5 in Helios respectively. ADVERTISEMENT EyeCare's domestic business grew 12% YoY led by performances across Retail and E-commerce, by both International and House brands. Titan Eye+ retail opened 12 new doors and closed 32 stores resulting in 20 domestic store closures (net) for the quarter. ADVERTISEMENT In the Emerging Businesses (domestic), Fragrances grew 56% YoY led by volume growths in SKINN and Fastrack, Women's Bags grew c.61% YoY and Taneira grew 15% YoY driven by value growth in International Business grew c.49% YoY led by near doubling of Tanishq's business in the US market. The 1 new store addition (net) in the quarter consisted of Tanishq and Titan Eye+'s one new store opening (each) in UAE in Dubai and Sharjah respectively and closure of 1 Mia store in the consumer discretionary major had reported 13% growth in its consolidated net profit at Rs 871 crore in the fourth quarter, compared with Rs 771 crore in the year-ago quarter. Total income during the reporting period increased 22% YoY to Rs 14,049 crore. ADVERTISEMENT Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
30 minutes ago
- Economic Times
Mphasis, 6 other stocks to trade ex-dividend tomorrow. Last opportunity to buy for benefit
Several companies, including Mphasis and Pfizer, will begin trading ex-dividend on Wednesday. July 9 is the record date for dividend eligibility. Mphasis, Pfizer, and other companies will trade ex-dividend starting Wednesday, with July 9 as the record date. To receive dividends, investors must purchase shares by today's trading session. The record date determines shareholder eligibility for dividend payouts. Following the T+1 settlement, the record and ex-date are typically the same. Tired of too many ads? Remove Ads What does a record date mean? Tired of too many ads? Remove Ads Why to buy one day before the record date? Which companies go ex-dividend on Wednesday? Mphasis has declared a final dividend of Rs 57 per share Pfizer has announced a final dividend of Rs 35 per share and a special dividend of Rs 130 per share Elegant Marbles & Grani Industries declared a final dividend of Rs 1 per share Johnson Controls – Hitachi Air Conditioning India announced an interim dividend of Rs 36 per share Kabra Extrusiontechnik will pay a final dividend of Rs 2.5 per share SJS Enterprises will distribute a final dividend of Rs 2.5 per share (25%). SML Isuzu declared a final dividend of Rs 18 per share The shares of a few companies like Mphasis and Pfizer , among others, will start trading on an ex-dividend basis from Wednesday, as the board of these companies had previously announced July 9 as the record date for the purpose of determining shareholder means that investors who wish to gain from the dividends of these companies should buy the shares of these companies by the end of today's trading session, so as to qualify for record date for a dividend is the cut-off date set by a company to determine which shareholders are eligible to receive the dividend. Only those who hold the company's shares on or before the record date are entitled to receive the dividend an investor buys the shares after the record date, they will not receive the dividend. To be eligible, investors typically need to purchase the shares at least one trading day before the ex-dividend date, which is usually set one or two days before the record the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the T+1 settlement system in the Indian stock market means that a trade is settled one business day after the trade date (T). So, if you buy or sell a stock on Monday (T), the settlement — i.e., transfer of shares and money — will be completed on Tuesday (T+1).: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
31 minutes ago
- Economic Times
Glen Industries IPO opens today. Check GMP, price band and other details
The initial public offering (IPO) of Glen Industries will open for subscription on July 8 aiming to raise Rs 63.02 crore through a fresh issue of 64.96 lakh equity shares. ADVERTISEMENT The BSE SME-bound IPO has set its price band at Rs 92–97 per share, with investor interest picking up momentum as the grey market premium stands at Rs 25–26, or 26% over the upper price band. Glen Industries manufactures eco-friendly packaging products such as compostable straws and thin-wall food containers, catering to HoReCa (Hotels, Restaurants, Cafés), dairy, and beverage industries. The company exports to several regions including the US, Europe, Australia, and the Middle East, with an established base of 25+ global minimum application size for retail investors is 2,400 IPO will close on July 10. Allotment is expected on July 11, with refunds and demat credits scheduled for July 14. The company's shares are set to list on BSE SME on July 15. ADVERTISEMENT Glen Industries plans to use the IPO proceeds primarily to set up a new manufacturing facility in West Bengal, with Rs 47.73 crore allocated for the project. The rest will go toward general corporate company has posted strong financials, with FY25 PAT rising 113% to Rs 18.27 crore on a revenue of Rs 171.3 crore. Glen aims to achieve a revenue milestone of Rs 1,000 crore by 2030, backed by a total investment plan of Rs 100.22 crore. ADVERTISEMENT "We are entering a strategic phase of growth and need to raise capital for our upcoming facility,' said Lalit Agrawal, Chairman and Managing Director of Glen Industries. "By balancing equity with debt, we've ensured minimal dilution while fuelling expansion." Glen Industries has appointed GYR Capital Advisors as the book-running lead manager and KFin Technologies as the registrar. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
