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Time of India
5 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
5 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)
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Business Standard
5 days ago
- Business
- Business Standard
Top stocks to buy today, July 15: NTPC Green, Hindustan Unilever and more
Stocks to buy: NTPC Green Energy, HUL and Eveready Industries are the top technical picks for Kunal Kamble of Bonanza Portfolio Stock Recommendations NTPC Green Energy NTPC Green has broken out of a 15-day consolidation phase, signalling the beginning of a fresh uptrend. The rise in volume during the breakout highlights strong buyer interest at current levels. Additionally, the RSI has broken out of its own consolidation, supporting the bullish price action. The Directional Movement Index also indicates strength in the move, with DI+ trading above DI−, and the ADX emerging from a flat range, suggesting renewed momentum and increasing market participation. The stock can be bought at current levels, with a stop-loss at ₹104, for an upside target of ₹125–₹128. NTPC Green Energy: ₹110.01 Stop Loss: ₹104 Hindustan Unilever Hindustan Unilever has formed a runaway gap, indicating strong bullish dominance and a shift in market sentiment. After giving a breakout above a falling trendline, the stock consolidated for a brief period, and today's gap-up move confirms renewed bullish strength. A spike in volume further reflects buyers' willingness to accumulate the stock at current levels. The Directional Indicator shows DI+ trading above DI−, while the ADX above DI− points to growing strength in the uptrend. Meanwhile, the RSI is moving northward, aligning with the positive price action. The stock can be accumulated on dips between ₹2,500 - ₹2,470, with a stop-loss at ₹2,340, for an upside target of ₹2,700–₹2,800. Hindustan Unilever: ₹2,516.60 Stop Loss: ₹2,340 Eveready Industries India Eveready Industries has given a breakout from a 20-week consolidation range, signalling the start of a fresh uptrend. The increase in volume during the breakout highlights strong buying interest at current levels. The stock has closed above all major EMAs, which confirms the emerging positive trend. Additionally, the RSI has broken above its previous resistance, supporting the upward price movement. The DI+ crossing above DI− further indicates a bullish shift in momentum. The stock has the potential to move towards ₹430–₹470, as long as it holds above the key support level of ₹360. Eveready Industries India: ₹382.30 Stop Loss: ₹360
Time of India
6 days ago
- Business
- Time of India
JP Power shares rally 7% in one week. Should you buy, sell or hold?
Shares of Jaiprakash Power Ventures Ltd ( JP Power ) surged as much as 4.7% on Monday to hit Rs 24.75 on the NSE, extending a sharp rally that has seen the stock rise more than 7% over the past week. The fresh upswing comes on the heels of a new 52-week high of Rs 24.86, recorded on Friday, July 11. The power and infrastructure stock has been on a tear this year, gaining 34.3% in 2025 so far and up 31.5% over the last 12 months. Longer-term returns are even more staggering, with the stock rising 302.2% in the past two years and delivering an eye-watering 1183% return over the last five years. Bullish charts, overbought signals From a technical perspective, JP Power is currently trading above all its eight key simple moving averages (SMAs), spanning the 5-day to 200-day markers, suggesting robust bullish sentiment across timeframes. Momentum indicators also point to sustained strength. The Relative Strength Index (RSI) stands at an elevated 84.3, a level widely viewed as strongly overbought, which implies that stock may show pullback in the near term. At the same time, the Moving Average Convergence Divergence (MACD) is at 1.7, comfortably above both the signal and center lines, reinforcing the prevailing uptrend. 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. 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. Analyst view: Key levels and caution According to Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer interest. Kamble 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 noted, adding that the overall setup suggests strong accumulation. From a trading perspective, he sees scope for fresh entries above Rs 24, with a stop-loss at Rs 17. If momentum holds, the stock could potentially climb to the Rs 38–45 range over the medium term. Also read | Sensex falls over 300 pts, Nifty below 25,100 on weakness in IT and financial stocks ( 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
6 days ago
- Business
- Economic Times
JP Power shares rally 7% in one week. Should you buy, sell or hold?
Shares of Jaiprakash Power Ventures Ltd (JP Power) surged as much as 4.7% on Monday to hit Rs 24.75 on the NSE, extending a sharp rally that has seen the stock rise more than 7% over the past week. The fresh upswing comes on the heels of a new 52-week high of Rs 24.86, recorded on Friday, July 11. ADVERTISEMENT The power and infrastructure stock has been on a tear this year, gaining 34.3% in 2025 so far and up 31.5% over the last 12 months. Longer-term returns are even more staggering, with the stock rising 302.2% in the past two years and delivering an eye-watering 1183% return over the last five years. From a technical perspective, JP Power is currently trading above all its eight key simple moving averages (SMAs), spanning the 5-day to 200-day markers, suggesting robust bullish sentiment across timeframes. Momentum indicators also point to sustained strength. The Relative Strength Index (RSI) stands at an elevated 84.3, a level widely viewed as strongly overbought, which implies that stock may show pullback in the near the same time, the Moving Average Convergence Divergence (MACD) is at 1.7, comfortably above both the signal and center lines, reinforcing the prevailing uptrend. ADVERTISEMENT 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 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. ADVERTISEMENT According to Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer interest. ADVERTISEMENT Kamble noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength, Kamble noted, adding that the overall setup suggests strong accumulation. From a trading perspective, he sees scope for fresh entries above Rs 24, with a stop-loss at Rs 17. If momentum holds, the stock could potentially climb to the Rs 38–45 range over the medium term. Also read | Sensex falls over 300 pts, Nifty below 25,100 on weakness in IT and financial stocks 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)
