Latest news with #CRIP
&w=3840&q=100)
Business Standard
5 days ago
- Business
- Business Standard
Smallcap stock hits 12-year high, surges 44% in 7 days. Do you own?
Jaiprakash Power Ventures share price Shares of Jaiprakash Power Ventures (JP Power) hit a multi-year high of ₹26.81, as they surged 13 per cent on the BSE in Monday's intra-day trade amid heavy volumes in an otherwise weak market. In comparison, the BSE Sensex was down 0.54 per cent at 82,057 at 01:14 PM. The stock price of the smallcap power generation company was trading at its highest level since May 2013. In the past seven trading days, the stock appreciated by 44 per cent from a level of ₹18.67 on July 3, 2025. It has more-than-doubled or zoomed 113 per cent from its 52-week low of ₹12.6 touched on May 7, 2025. The average trading volumes at the counter jumped over 2-fold. A combined 681 million shares representing 10 per cent of total equity of JP Power changed hands on the NSE (604 million) and BSE (77 million). Shareholding pattern of JP Power Jaiprakash Associates (JAL) is promoter of JP Power and held 24 per cent stake in the company as on March 31, 2025. The remaining 76 per cent stake was held by the resident individual shareholders (38.85 per cent), banks including ICICI Bank, Uco Bank and Canara Bank holding up to 15.71 per cent stake collectively; followed by foreign portfolio investors (6.04 per cent), Naresh Chandra Talwar (5.02 per cent) and bodies corporate (5.08 per cent), shareholding pattern data shows. What's fuelling JP Power stock price? JP Power believes that the movement of price of the company's scrip is purely based on market driven forces. 'At present, there is no unpublished price sensitive information or any pending announcement or development that, in our opinion, may have a bearing on the price / volume behavior of the scrip. Should any such event or information arise, we will promptly disclose the same to the stock exchanges in accordance with the applicable regulatory requirements,' JP Power said on July 8, on clarification on volume movement of the company. The Adani group has become the frontrunner to buy the insolvent Jaiprakash Associates with an unconditional bid of at least ₹12,000 crore, Bloomberg reported. The Gautam Adani-led group is leading the race to acquire the infrastructure developer, with an immediate cash payout of ₹3,500 crore. The group's offer also includes retaining ₹890 crore within the company after its acquisition and potentially absorbing ₹2,600 crore from the disputed Yamuna Expressway Industrial Development Authority (YEIDA) land. CLICK HERE FOR FULL REPORT Meanwhile, India Ratings and Research (Ind-Ra) in January 2025, in its 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. 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. 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. With the country's peak power demand reaching a record 250 GW, the need for capacity expansion creates significant investment opportunities, particularly in renewable energy.
&w=3840&q=100)
Business Standard
07-07-2025
- Business
- Business Standard
Smallcap power stock soars 16% on huge volumes; zooms 74% in 2 months
Jaiprakash Power Ventures share price: Shares of Jaiprakash Power Ventures (JP Power) have moved higher by 16 per cent to ₹21.95 on the BSE in Monday's intra-day trade amid heavy volumes in an otherwise subdued market. 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.
Yahoo
18-03-2025
- Business
- Yahoo
Eastman Kodak Co (KODK) Q4 2024 Earnings Call Highlights: Navigating Challenges with Strategic ...
Release Date: March 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Eastman Kodak Co (NYSE:KODK) reported a gross profit increase to 19% for the fourth quarter of 2024, up from 17% in the same quarter of 2023, indicating improved profitability. The company successfully maintained its gross profit percentage at 19% for the full year 2024 despite challenges such as inflation and increased transportation costs. Eastman Kodak Co (NYSE:KODK) is investing in growth initiatives, including expanding its Advanced Materials and Chemicals (AMC) business, which is showing continued profit and revenue growth. The company has made significant investments in its film plant, increasing capacity and efficiency, which is expected to support future growth. Eastman Kodak Co (NYSE:KODK) achieved a favorable outcome in the tariff petition process with the US International Trade Commission, establishing a level playing field for its commercial print division in the US market. Eastman Kodak Co (NYSE:KODK) experienced a revenue decline of 3% in the fourth quarter of 2024 compared to the same period in 2023, reflecting ongoing challenges in its core business. The company's full-year revenue for 2024 decreased by 7% compared to 2023, partly due to strategic decisions to shed non-core businesses. Operational EBITDA for 2024 declined by 42% compared to 2023, impacted by lower volumes, higher aluminum costs, and inventory reserve adjustments. Cash provided by operating activities decreased by $13 million in the fourth quarter of 2024 compared to the prior year, reflecting challenges in cash flow management. Eastman Kodak Co (NYSE:KODK) ended 2024 with a cash balance of $201 million, a decrease of $54 million from the previous year, driven by capital expenditures and lower profitability from operations. Warning! GuruFocus has detected 2 Warning Signs with KODK. Q: Can you provide an update on Kodak's US pension plan and its impact on the company's financials? A: Jim Continenza, Executive Chairman and CEO, explained that the board has approved the termination of the Kodak Retirement Income Plan (CRIP) effective March 30, 2025. The process is underway to settle pension obligations, and any reverted assets are expected to be used to reduce long-term debt, thereby decreasing the annual cost of servicing that debt. Q: How did Kodak's revenue and profitability perform in the fourth quarter of 2024? A: David Bullwinkle, CFO, reported that Kodak's revenue for Q4 2024 was $266 million, a decrease of 3% compared to the prior year. However, gross profit improved by 9% to 19%, reflecting the company's focus on smart revenue and operational efficiencies. Q: What are the key growth initiatives for Kodak's Advanced Materials and Chemicals (AMC) business? A: Jim Continenza highlighted that AMC is a critical investment for Kodak's future. The company has increased capacity through the sensitizing line and invested in growth initiatives like the CGMPharma facility, which will start production this year. Demand for various types of film continues to grow, and Kodak is expanding its capabilities and capacity in this area. Q: What was the outcome of the tariff petition process with the US International Trade Commission? A: Jim Continenza stated that Kodak concluded the tariff petition process, resulting in a level playing field for the plates business in the United States. This outcome is a significant win for US manufacturing and helps protect domestic jobs against unfair foreign competition. Q: How is Kodak addressing the decline in its print business? A: Jim Continenza acknowledged the decline in the print business but noted that it has been partially offset by growth in AMC revenues. The company is focusing on innovation and operational efficiencies to maintain profitability despite challenges like inflation and supply chain issues. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
