Latest news with #JPPower
Time of India
6 days ago
- Business
- Time of India
JP Power shares slide over 5%, extend decline for second day in row
Shares of Jaiprakash Power Ventures ( JP Power ) fell 5.06% in intraday trade on Wednesday, slipping to Rs 23.28 apiece on the BSE. This decline follows a nearly 10% drop on Tuesday, highlighting continued selling pressure in the stock. The stock hit its 52-week high of Rs 27.62 earlier this week on July 14. With a 52-week low of Rs 12.35, the stock had more than doubled over the past year before the recent pullback. JP Power is currently under the ASM (Additional Surveillance Measure) framework – Stage 1, a regulatory measure aimed at controlling excessive volatility and protecting retail investors. Technical View: Moving Averages: Despite the recent correction, the stock remains technically strong, trading above 7 out of 8 key simple moving averages (SMAs). It is currently above the 10-day to 200-day SMAs, although it has slipped below the 5-day moving average, reflecting short-term weakness. Relative Strength Index (RSI): The 14-day RSI stands at 69.8, which is just below the overbought threshold of 70. An RSI above 70 suggests a stock may be overbought, while below 30 is considered oversold. Investors should monitor price action closely, especially with the stock under ASM surveillance and showing signs of near-term volatility after a sharp recent rally. Adani buzz and resolution hopes The rally last week was largely sparked by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates , a company linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, later converted into a Rupee loan. HDFC Bank to consider first-ever bonus share issue on July 19 JP Associates is undergoing insolvency resolution and has reportedly attracted six bidders: Adani, Vedanta , JSPL , Suraksha Group, Dalmia Bharat , and PNC Infratech . The proposals are understood to be for acquiring the company in full. The strategic implications of the resolution process have brought JP Power into sharp focus, fueling both price and volume action in recent sessions.
Time of India
6 days ago
- Business
- Time of India
Bank of Maharashtra Q1 Results: Net profit jumps 23% YoY to Rs 1,593 crore
State-run Bank of Maharashtra on Tuesday reported a net profit of Rs 1,593 crore for the quarter ended June 2025, marking a 23%year-on-year growth from Rs 1,293.68 crore in the year-ago period. The lender reported a total income of Rs 7,879.18 crore for the April-June quarter, a 16% jump from Rs 6,768.76 crore in the corresponding quarter of last fiscal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo The growth in Q1 net profit came despite a lower other income year-on-year. The bank reported other income of Rs 825.2 crore for the period under review, marking a 7.7% drop from Rs 894.08 crore posted in Q1 of the last fiscal. Interest earned by the bank rose to Rs 7,054 crore in Q1, up from Rs 5,875 crore in the year-ago period. Meanwhile, the lender's capital adequacy ratio improved to 20.06% from 17.04% in the corresponding quarter of FY25. Also read | JP Power shares slip 5%, halting 3-day rally that added 22% Live Events Asset quality for the quarter remained stable on a sequential basis, with gross NPA unchanged at 1.74% and net NPA also holding steady at 0.18% compared to the March quarter. Bank of Maharashtra shares rose after the earnings announcement, trading 1.8% higher at Rs 57.08.
Time of India
7 days ago
- Business
- Time of India
JP Power shares slip 5%, halting 3-day rally that added 22%
Shares of Jaiprakash Power Ventures Ltd ( JP Power ) declined on Tuesday, snapping a sharp three-session rally that saw the stock gain 21.7%. The stock fell as much as 4.9% to Rs 25.88 on the BSE, as traders booked profits following a recent surge driven by optimism around group-level developments. The decline follows a sharp three-day upswing, fuelled by heavy volumes and renewed investor interest. On Monday, JP Power rose 4.7% to Rs 24.75, extending a rally that had seen the stock hit a new 52-week high of Rs 24.86 on Friday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Technical indicators also point to a potential cooldown. The stock has been trading above all key simple moving averages, from the 5-day to 200-day marks, while the Relative Strength Index (RSI) has touched an elevated 89.8, a level widely seen as overbought. The Moving Average Convergence Divergence (MACD) remained positive at 2.1, reinforcing near-term bullishness, but analysts had warned of the likelihood of a pullback. Adani bid, resolution buzz fuelled rally Live Events The recent rally was partly driven by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates , a compnay linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, which was later converted into a rupee loan. Jaiprakash Associates is undergoing insolvency proceedings and has reportedly drawn interest from six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat and PNC Infratech. The proposals are believed to be for acquiring the company in full, raising hopes of clarity on liabilities that could benefit JP Power. Also read | HCLTech shares in focus after Q1 profit drops 10% YoY to Rs 3,843 crore Analyst view: Resistance ahead, accumulation evident Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, had earlier said that JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer interest. Kamble had noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. 'The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength,' Kamble added, pointing to strong accumulation. He projected fresh entry potential above Rs 24, with a stop-loss at Rs 17, and sees possible medium-term upside to Rs 38–45 if momentum persists. Despite Tuesday's decline, the stock remains up 42.5% in 2025 so far and has delivered a 1364% return over the past five years. The stock is up 46% in 2025 so far. Also read | JP Power shares rally 7% in one week. Should you buy, sell or hold? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
7 days ago
- Business
- Economic Times
JP Power shares slip 5%, halting 3-day rally that added 22%
Shares of Jaiprakash Power Ventures Ltd (JP Power) declined on Tuesday, snapping a sharp three-session rally that saw the stock gain 21.7%. The stock fell as much as 4.9% to Rs 25.88 on the BSE, as traders booked profits following a recent surge driven by optimism around group-level developments. ADVERTISEMENT The decline follows a sharp three-day upswing, fuelled by heavy volumes and renewed investor interest. On Monday, JP Power rose 4.7% to Rs 24.75, extending a rally that had seen the stock hit a new 52-week high of Rs 24.86 on Friday. Technical indicators also point to a potential cooldown. The stock has been trading above all key simple moving averages, from the 5-day to 200-day marks, while the Relative Strength Index (RSI) has touched an elevated 89.8, a level widely seen as overbought. The Moving Average Convergence Divergence (MACD) remained positive at 2.1, reinforcing near-term bullishness, but analysts had warned of the likelihood of a pullback. The recent rally was partly driven by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates, a compnay linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, which was later converted into a rupee loan. ADVERTISEMENT Jaiprakash Associates is undergoing insolvency proceedings and has reportedly drawn interest from six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat and PNC Infratech. The proposals are believed to be for acquiring the company in full, raising hopes of clarity on liabilities that could benefit JP read | HCLTech shares in focus after Q1 profit drops 10% YoY to Rs 3,843 crore ADVERTISEMENT Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, had earlier said that JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer had noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. ADVERTISEMENT 'The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength,' Kamble added, pointing to strong accumulation. He projected fresh entry potential above Rs 24, with a stop-loss at Rs 17, and sees possible medium-term upside to Rs 38–45 if momentum Tuesday's decline, the stock remains up 42.5% in 2025 so far and has delivered a 1364% return over the past five years. The stock is up 46% in 2025 so far. Also read | JP Power shares rally 7% in one week. Should you buy, sell or hold? (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)
Economic Times
14-07-2025
- Business
- Economic Times
Stock market update: Nifty Pharma index advances 0.83%
NEW DELHI: The Nifty Pharma index closed on a positive note on Monday. ADVERTISEMENT Shares of Mankind Pharma Ltd.(up 4.59 per cent), Laurus Labs Ltd.(up 4.26 per cent), Granules India Ltd.(up 3.58 per cent), Torrent Pharmaceuticals Ltd.(up 2.74 per cent) and J B Chemicals & Pharmaceuticals Ltd.(up 1.83 per cent) ended the day as top gainers in the pack. On the other hand, Zydus Lifesciences Ltd.(down 1.14 per cent), Divi's Laboratories Ltd.(down 0.83 per cent), Abbott India Ltd.(down 0.37 per cent), Dr. Reddy's Laboratories Ltd.(down 0.33 per cent) and Cipla Ltd.(down 0.07 per cent) finished as the top losers of the day. The Nifty Pharma index closed 0.83 per cent up at 22410.35. Benchmark NSE Nifty50 index ended down 67.55 points at 25082.3, while the BSE Sensex stood down 247.01 points at 82253.46. Among the 50 stocks in the Nifty index, 22 ended in the green, while 28 closed in the red. ADVERTISEMENT Shares of JP Power, Vodafone Idea, Ola Electric Mobilit, RattanIndia Power and YES Bank were among the most traded shares on the NSE. Shares of JP Power, Anand Rathi Wealth, Soma Textiles, Faze Three Ltd and Allied Blenders hit their fresh 52-week highs in today's trade, while SKIL Infrastructure, Picturepost Studios, Marshall Machines, Capital Trust and Magnum Ventures hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
