Latest news with #GautamAdani-led
India.com
an hour ago
- Business
- India.com
Masterstroke by Gautam Adani, revives THIS power plant after acquiring it from..., Power Supply to grid begins after…
Gautam Adani set to buy one more company, to pay Rs 125000000000 crore for THIS bankrupt business group, company is... New Delhi: In a major development, Gautam Adani-led Adani Power has made the long-dead 600 MW Butibori power plant active. This comes days after the company acquired it from Reliance's Vidarbha Industries Power Limited (VIPL) for Rs 4,000 crore in July 2025. It is important to note that the 2×300 MW plant has been shut since 2019, its systems rusted and licenses expired. After VIPL's financial collapse and admission to NCLT in 2023, hopes for the plant's revival seemed bleak. However, Adani's swift intervention has taken the power sector by surprise. When a crack revival team was dispatched to Butibori from across Adani's power units, they discovered corroded machinery, deteriorated systems, and a complete absence of experienced staff, most of whom had left during the plant's five-year shutdown. Despite all these, the engineers from the Adani Group worked relentlessly and made the plant active. According to the reports, critical spares were flown in, specialized repairs carried out, and a flurry of activity ensured that all licenses, permits, and statutory approvals were renewed in record time. The plant is now feeding power into the national grid, though not yet at full capacity. Experts are of the opinion that the heavy lifting isn't over yet. 'Decades-old systems need modern upgrades. The focus now shifts to automation and boosting efficiency,' said a source familiar with the operations to The Live Nagpur.
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Business Standard
2 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.
Scroll.in
5 days ago
- Business
- Scroll.in
Bombay HC dismisses plea challenging use of salt pan land for Dharavi project rehabilitation
The Bombay High Court on Thursday dismissed a plea challenging the Maharashtra government's decision to acquire 255 acres of salt pan land in Mumbai to rehabilitate persons affected by the Dharavi redevelopment project, The Indian Express reported. The salt pan land parcels, owned by the Union government, are located along Bhandup, Kanjurmarg and Mulund. The land parcels are to be handed over to Adani Realty, a subsidiary of the Gautam Adani-led Adani Group. The company is leading the Dharavi redevelopment project, which will create rental housing options for slum dwellers ineligible for rehabilitation in Dharavi. In February 2024, the Maharashtra Cabinet had approved a proposal to request the Union government to transfer the land parcels on a 99-year lease for the Dharavi project. The petitioner had challenged the validity of the state government's decision to use the salt pan land to rehabilitate ineligible persons affected by the Dharavi project. The public interest litigation contended that the Maharashtra government's decision contravened past judgements of the Supreme Court and the High Court as the land parcels were part of a wetland where construction was not allowed. The petitioner argued that the rehabilitation cannot be allowed because the land is located inside the coastal regulation zone, The Hindu reported. Coastal Regulation Zones are areas along the coastline where construction activity is regulated to protect the ecosystem. Additional Solicitor General Anil Singh, representing the Union government, opposed the plea, arguing that it had been filed in a 'casual and cavalier manner', The Indian Express reported. The Union government argued that the persons affected by the Dharavi project had to be rehabilitated and that no law prohibited using salt pan lands for the purpose. The bench of Chief Justice Alok Aradhe and Justice Sandeep V Marne observed on Thursday that the petitioner had not carried out research and failed to disclose the basis of the information mentioned in the plea. The court noted that while salt pan lands were considered as wetlands, the Union government had in 2024 changed the policy to permit the transfer of such parcels at concessional prices for purposes such as slum redevelopment, affordable housing, housing for the Economically Weaker Section and housing for persons affected by projects, The Indian Express reported. However, the bench said that the state government must consider environment-related issues while implementing the project.
Mint
08-07-2025
- Business
- Mint
JP Associates share price rallies 5%, extends rise to 2nd day. What's driving this penny stock higher?
JP Associates share price gained nearly 5% after a media report suggested that the Adani Group had emerged as the only bidder without conditions in the race to acquire the company. While Business Standard last week reported that Adani group emerged as the front-runner to acquire JP Associates, an Economic Times report earlier today stated that the Gautam Adani-led conglomerate is the only bidder without conditions in the race to acquire JP Associates, submitting a ₹ 12,600 crore offer under the ongoing insolvency process. The other four bidders, namely Dalmia Bharat, Vedanta, Jindal Power and PNC Infratech, have tied their bids to the resolution of a critical land dispute involving the Gautam Buddh Nagar Sports City project, currently pending before the Supreme Court. Analysts believe that acquisition by a well-managed and financially strong Adani group bodes well for the company and its subsidiaries. G. Chokkalingam, Founder & Head of Research, Equinomics Research, told Mint that it makes sense for the Adani Group to acquire JP Associates, as it would be complementary to the Adani Group because JP Associates has the cement and power businesses. In April, as many as 25 companies showed interest to acquire JP Associates. JP Associates, which has business interests spanning real estate, cement manufacturing, hospitality, and engineering & construction, was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. The company was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. Creditors are claiming a staggering ₹ 57,185 crore. JP Associates share price opened at ₹ 3.15, higher than their last closing price of ₹ 3.07 and soon rose to the day's high of ₹ 3.22, up 4.89%. The trading volumes on the stock were 79.01 lakh shares, higher than the two-week average of 44.54 shares.
News18
07-07-2025
- Business
- News18
JP Power Share Price Jumps 15% on Monday: What's Fueling The Rally?
JP Power Share Price: JAL was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. JP Power And JP Associates Share Price: Shares of Jaiprakash Power Ventures (JP Power), a subsidiary of Jaypee Associates Limited (JAL), have climbed 15 per cent intraday in the morning session on Monday following reports that the Adani Group has emerged as the highest bidder to acquire Jaiprakash Associates (JP Associates). Stocks of JP Power were trading at Rs 21.78 apiece at 11:30 am. Meanwhile, Jaiprakash Associates Limited's shares also witnessed a rally to hit the 5% per cent upper circuit intraday on Monday. The trading halted in the stocks at Rs 3.19 apiece. JP Power is a smallcap company with a market capitalization of Rs 14,872 crore (as of July 07 till 11:30 am). The scrip opened at Rs 19 apiece, against the previous day close at Rs 18.95 apiece. On a year-to-date basis, shares of JP Power are up nearly 20 per cent. JP Associates Insolvency The troublesome Jaypee Associates Limited (JAL) was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. The company engages in real estate, cement, manufacturing, hospitality and engineering and construction. The company has a tax liability over Rs 57,185 crore. JAL was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. Gautam Adani-led conglomerate has made a bid of Rs 12,500 crore to acquire it, say reports. According to the report, Adani Group has proposed an upfront payment of more than Rs 8,000 crore without any preconditions. Jaypee Associates Limited (JAL) has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd and several other companies. Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process. Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech are the lead runners in the acquisition of JP Associates Limited. About JP Group JP Group, officially known as the Jaypee Group, is an Indian industrial group founded by Jaiprakash Gaur. It has been involved in several key infrastructure and energy projects in India. The group is based in Noida, Uttar Pradesh. Their flagship firm Jaiprakash Associates Ltd (JAL) and subsidiary Jaypee Infratech Ltd (JIL) went into insolvency proceedings. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. About the Author Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: July 07, 2025, 11:38 IST News business » markets JP Power Share Price Jumps 15% on Monday: What's Fueling The Rally?
