 "JSW Energy dips on plan to buy Jaypee's hydropower assets")
JSW Energy had dipped 8% to Rs 66.25 after the company said it will buy three hydropower projects of Jaiprakash Power Ventures Ltd (JPVL).
In a joint statement on Thursday after market hours, JSW Energy and JPVL announced they had signed a memorandum of understanding for three operating plants - the 300-Mw Baspa stage-II plant, the 1,091-Mw Karcham Wangtoo plant (both hydro power plants) and the 500-Mw Bina thermal power plant.
The companies, however, did not immediately disclose the value of the transaction.
Shares of JSW Energy has opened at Rs 74.80 and touched a low of Rs 64.10 on NSE. A combined 3.97 million shares changed hands on the counter so far on NSE and BSE.
Jaypee Group stocks including JVPL (up 8% at Rs 12.70), Jaiprakash Associates (up 4% at Rs 26.65) and Jaypee Infratech (up 3% at Rs 20.50) were trading higher on NSE. On Thursday, all these three stocks had fallen between 14-19% after Reliance Power called off its talks to buy the assets citing regulatory uncertainties.
In a joint statement on Thursday after market hours, JSW Energy and JPVL announced they had signed a memorandum of understanding for three operating plants - the 300-Mw Baspa stage-II plant, the 1,091-Mw Karcham Wangtoo plant (both hydro power plants) and the 500-Mw Bina thermal power plant.
The companies, however, did not immediately disclose the value of the transaction.
Shares of JSW Energy has opened at Rs 74.80 and touched a low of Rs 64.10 on NSE. A combined 3.97 million shares changed hands on the counter so far on NSE and BSE.
Jaypee Group stocks including JVPL (up 8% at Rs 12.70), Jaiprakash Associates (up 4% at Rs 26.65) and Jaypee Infratech (up 3% at Rs 20.50) were trading higher on NSE. On Thursday, all these three stocks had fallen between 14-19% after Reliance Power called off its talks to buy the assets citing regulatory uncertainties.
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