JSW Engery, JP Power gain on hydro projects deal

Shares of JSW Engery and Jaiprakash Power Ventures have rallied by up to 6% in early morning deals on National Stock Exchange (NSE) after these companies signed a hydro power deal.

JSW Energy said that it has agreed to acquire from Jaiprakash Power Ventures and other shareholders, 100% stake in Himachal Baspa Power Company Limited for a base Enterprise Value of approximately Rs 9,700 crore, subject to mutually agreed adjustments Stock Market Trading Tips

The board of directors of Jaiprakash Power Ventures, a fully owned subsidiary of the Jaypee group, has approved the 100% transfer of businesses of its operating power plants — the 300-Mw Baspa-II hydroelectric plant (commissioned in 2003) and the 1,091-Mw Karcham Wangtoo plant (commissioned in 2011), in Himachal Pradesh.

Jaiprakash Power Ventures has rallied 6% to Rs 15.20, while JSW Energy gained 4% to Rs 78.60 on NSE Personal Numerology Tips