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Economic Times
3 days ago
- Business
- Economic Times
JP Power shares rally over 17% on Adani bid buzz for JP Associates
JP Power Share Price: Jaiprakash Power Ventures Ltd. shares surged following a successful AGM held virtually on July 5, 2025. Key resolutions were approved, and Chairman Manoj Gaur addressed shareholders, boosting investor confidence. Technical indicators reveal strong bullish momentum, with the stock trading above all key SMAs and an RSI approaching overbought territory. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Jaiprakash Power Ventures JP Power ) surged over 17% to Rs 22.25 in Monday's intraday trade on the BSE, following media reports that the Adani Group has emerged as the highest bidder to acquire Jaiprakash Associates JP Associates ).In June, it was reported that debt-laden Jaiprakash Associates (JAL) had received six resolution plans from suitors including Adani Group, Vedanta JSPL (Naveen Jindal), Suraksha Group, Dalmia Bharat, and PNC Infratech , according to sources. The bids, submitted on June 24, were aimed at acquiring the company in its Associates, which operates across real estate, cement, hospitality, and construction, was admitted into the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Allahabad Bench, via an order dated 3 June company entered insolvency after defaulting on loan repayments, with total claims from creditors amounting to a staggering Rs 57,185 Power has provided a corporate guarantee for a $150 million external commercial borrowing availed by JP Associates from the State Bank of India , which has since been converted into a rupee term Power reported a 73% year-on-year decline in net profit to Rs 155.67 crore for the March 2025 quarter, impacted by lower income. In the same quarter last year, the company had posted a net profit of Rs 588.79 also fell to Rs 1,366.67 crore, down from Rs 1,863.63 crore in the year-ago period. For FY25, net profit dropped to Rs 813.55 crore from Rs 1,021.95 crore in the technical charts, JP Power is exhibiting strong bullish momentum . The Relative Strength Index (RSI-14) stands at 69.5, nearing the overbought zone. An RSI above 70 typically signals a possible stock is also trading above all eight key Simple Moving Averages (SMAs) — from the 5-day to the 200-day — indicating broad-based strength and sustained upward trend.
Time of India
3 days ago
- Business
- Time of India
JP Power shares surge 14% after AGM lifts inverter sentiment
Shares of Jaiprakash Power Ventures Ltd (JP Power) surged nearly 14% on Monday to close at Rs 21.57, gaining momentum after the company successfully concluded its 30th Annual General Meeting ( AGM ) over the weekend. The AGM, held virtually on July 5, 2025, was conducted via video conferencing (VC)/other audio-visual means (OAVM), in line with the latest regulatory guidelines issued by the Ministry of Corporate Affairs (MCA) and SEBI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiólogo: El mejor método para un vientre plano después de los 50 (¡Es genial!) Té mágico desintoxicante Undo During the meeting, all key resolutions outlined in the notice dated May 1, 2025, were presented, including adoption of financial statements, reappointment of directors, and approvals for auditor appointments and director remuneration. The company also enabled electronic voting through CDSL 's e-voting platform, both before and during the AGM, ensuring transparency and shareholder participation. JP Power Chairman Manoj Gaur addressed shareholders during the AGM, sharing key insights into the company's performance and outlook. The meeting was attended by 107 shareholders via video conferencing, including senior board members and committee heads. The market responded positively to the company's governance and communication efforts, with increased investor confidence reflected in the day's sharp stock price movement. Live Events On the technical front, Jaiprakash Power Ventures Ltd. is showing strong bullish momentum : The Relative Strength Index (RSI-14) stands at 69.5, indicating the stock is approaching overbought territory. For context, an RSI below 30 typically signals an oversold condition, while an RSI above 70 suggests the stock may be overbought and could be due for a pullback. Additionally, the stock is trading above all 8 key Simple Moving Averages (SMAs) — ranging from the short-term 5-day to the long-term 200-day SMA. This alignment across timeframes is considered a bullish signal, reflecting sustained upward momentum and strong underlying trend strength.
India Gazette
06-06-2025
- Business
- India Gazette
RBI's rate cut will boost mid-segment housing affordability in top cities, say real estate executives
New Delhi [India], June 6 (ANI): The decision of the Reserve Bank of India (RBI) to reduce the policy repo rate will significantly help mid-segment housing across top-tier cities, translating into lower EMIs (Equated Monthly Installment) and better affordability, said real estate executives, terming it a 'strategic move'. The policy rates massively impact the sale of the real estate infrastructure, as lowering of rates means lower interest rates from banks for the home buyers and cheaper EMIs. The policy rate cuts have a massive impact on the real estate sector. This effectively lowers the cost of borrowing, making home loan EMIs easier on the pocket and thereby directly improving affordability for buyers. RBI's MPC, after the meeting today, decided to reduce the policy repo rate under the Liquidity Adjustment Facility by 50 basis points to 5.5 per cent. This larger-than-expected cut in the repo rate was accompanied by a 100 bps cut in the Cash Reserve Ratio (CRR), now reduced to 3 per cent, aimed at enhancing liquidity by Rs 2.5 lakh crore. 'The cumulative 100 basis point reduction over the last six months is a welcome and strategic move. We are particularly optimistic about its impact on the affordable housing sector, which has been under pressure on both the demand and supply sides. Lower interest rates will increase homebuyer affordability and improve the financial viability of affordable housing projects,' said Shekhar G Patel, President of the real estate industry body CREDAI. 'Not only will it make homeownership affordable and boost buyers' sentiments but it will also add new vigour to the economy, which in turn will augur well for both residential and commercial realty,' said Manoj Gaur, CMD, Gaurs Group. Anshul Jain, Chief Executive, India, SEA & APAC Tenant Representation, Cushman & Wakefield, in his analysis, said that RBI has today delivered a boost to consumer/household sentiment with a 50 bps cut, seen as positive for the real estate sector, particularly housing. 'With this, the cumulative cut for this year of 1 per cent is indeed going to help translate into lower EMIs and relatively better affordability, thereby helping the mid-segment housing across top-tier cities,' Jain added. Anuj Puri, Chairman of ANAROCK Group, shared similar views and added, 'This can potentially boost demand in the Indian real estate sector, especially in affordable and mid-income segments.' Commenting on the impact of the decision on the luxury segment, Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd, said, 'The demand for mid- and premium-segment homes has already been on the rise following previous rate cuts, and this larger reduction will further accelerate interest from both homebuyers and investors.' 'This move could spur refinancing activity and strengthen investment interest in branded properties known for their attractive returns, particularly among Grade A developers,' said Niranjan Hiranandani, Chairman, NAREDCO & Hiranandani Group. Umang Jindal, CEO at Homeland Group, said, 'More than numbers, it also paints a picture of a growing economy and a confident future.' Real estate sector has an important role to play. As per the government data, the real estate sector contributed around 7 per cent to India's GDP in 2018-19 and its share is expected to grow to around 13 per cent of India's GDP in 2025. (ANI)
Time of India
24-05-2025
- Business
- Time of India
ED carries out searches of Delhi-NCR, Mumbai presmises of JIL, JAL & others realty cos
New Delhi: The Enforcement Directorate on Friday carried out searches at 15 premises in Delhi-NCR and Mumbai linked to Jaypee Infratech Ltd (JIL), Jaypee Associates Ltd (JAL) and others in connection with an alleged Rs 12,000-crore fraud, and diversion and siphoning off homebuyers' money. Sources said other associated entities that have been searched include Gaursons, Gulshan, Mahagun and Suraksha Realty, the latter is currently the owner of JIL after winning the bid through insolvency process. The anti-money laundering agency initiated investigation under the PMLA against JIL and JAL based on multiple FIRs registered by the economic offences wing of the Delhi Police and Uttar Pradesh Police on complaints filed by hundreds of homebuyers of Jaypee Wish Town and other projects of JIL. A senior officer said ED is looking into an alleged "fraud with homebuyers and investors of around Rs 12,000 crore and siphoning off and diversion of funds". The former promoters of JIL and JAL are under the scanner while JIL's present owner Suraksha Realty could provide documents available with the company as it is under its control now. When contacted, a spokesperson for Suraksha told TOI that "it is a mistaken identity as we have not done any sale or purchase, except construction of the projects". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo He denied that Suraksha was in any way involved in bank borrowings related to the project. There was no response from Manoj Gaur, the former director of JIL. The searches were conducted across Delhi-NCR and Mumbai at offices and residential premises of the accused. The investigation is primarily focused on the alleged frauds by promoters of Jaypee Wish Town, who began selling flats in 2010-11 and were to deliver these within three years. In 2017, several FIRs were filed against the promoters of JIL after homebuyers held demonstrations against police inaction in registering a case against the builder who had collected money from them, and allegedly diverted it to other projects, leading to delay in delivery of thousands of flats. Many of the homebuyers had put their life savings in Jaypee Infratech projects in Wish Town in Noida and other places, the scheduled delivery of which was to begin in 2013-15 but are pending even today. Jaypee Infratech Ltd, now under Suraksha Realty, has pushed the deadline to deliver possession of more than 10,000 flats from June 2026 to Dec 2028. The Mumbai-based realtor had won the project through insolvency in 2023, and its project deadlines started from May 2024 when the award of JIL was approved by the National Company Law appellate Tribunal. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Time of India
24-05-2025
- Business
- Time of India
ED conducts searches on 15 premises in Delhi-NCR, Mumbai of Jaypee and other realty firms
NEW DELHI: Enforcement Directorate on Friday carried out searches on 15 premises in Delhi-NCR and Mumbai linked to Jaypee Infratech Ltd (JIL), Jaypee Associates Ltd (JAL) and others in connection with an alleged Rs 12,000-crore fraud, and diversion and siphoning off homebuyers' money. Sources said other associated entities that have been searched include Gaursons, Gulshan, Mahagun and Suraksha Realty, the latter is currently the owner of JIL after winning the bid through insolvency process. The agency initiated investigation under PMLA against JIL and JAL based on multiple FIRs registered by the economic offences wing of Delhi Police and UP Police on complaints filed by hundreds of homebuyers of Jaypee Wish Town and other projects of JIL. A senior officer said ED is looking into an alleged "fraud with homebuyers and investors of around Rs 12,000 crore and siphoning off and diversion of funds". The former promoters of JIL and JAL are under the scanner while JIL's present owner Suraksha Realty could provide documents available with the company as it is under its control now. A spokesperson for Suraksha told TOI that "it is a mistaken identity as we have not done any sale or purchase, except construction of the projects". Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thousands Are Saving Money Using This Wall Plug elecTrick - Save upto 80% on Power Bill Click Here Undo He denied that Suraksha was in any way involved in bank borrowings related to the project. There was no response from Manoj Gaur, the former director of JIL. The investigation is primarily focused on the alleged frauds by promoters of Jaypee Wish Town, who began selling flats in 2010-11 and were to deliver these within three years. In 2017, several FIRs were filed against the promoters of JIL after homebuyers held demonstrations against police inaction in registering a case against the builder who had collected money from them, and allegedly diverted it to other projects, leading to delay in delivery of thousands of flats. Many of the homebuyers had put their life savings in Jaypee Infratech projects in Wish Town in Noida and other places, the scheduled delivery of which was to begin in 2013-15 but are pending even today. Jaypee Infratech Ltd, now under Suraksha Realty, has pushed the deadline to deliver possession of more than 10,000 flats from June 2026 to Dec 2028. The Mumbai-based realtor had won the project through insolvency in 2023, and its project deadlines started from May 2024. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
