Jaiprakash Power gains as Vishnuprayag hydro power plant resumes power generation

Jaiprakash Power Ventures rose 3.96% to Rs 6.04 at 11:44 IST on BSE after the company's 400 megawatts Vishnuprayag hydro power plant resumed power generation with effect from 11 September 2015.

Jaiprakash Power Ventures made the announcement on Saturday, 12 September 2015.

Meanwhile, the BSE Sensex was up 74.59 points, or 0.29%, to 25,684.80

On BSE, so far 6.55 lakh shares were traded in the counter, compared with an average volume of 15.99 lakh shares in the past one quarter.

The stock hit a high of Rs 6.10 and a low of Rs 5.83 so far during the day. The stock hit a 52-week high of Rs 15.85 on 5 November 2014. The stock hit a record low of Rs 5.23 on 25 August 2015.

The stock had underperformed the market over the past one month till 11 September 2015, sliding 20.84% compared with 8.10% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 1.86% as against Sensex's 2.88% decline.

The small-cap company has an equity capital of Rs 2938 crore. Face value per share is Rs 10.

Jaiprakash Power Ventures said that the company's 400 megawatts (MW) Vishnuprayag hydro power plant, which was temporarily shut down with effect from 25 June 2015, has resumed power generation with effect from 11 September 2015. The company had to suspend operations at the power plant in June 2015 due unprecedented flood in river Alakhnanda.

Jaiprakash Power Ventures' net profit fell 6.1% to Rs 64.94 crore on 59.1% rise in total income to Rs 1269.76 crore in Q1 June 2015 over Q1 June 2014.

Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.

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