Jaiprakash Power Ventures in demand

Jaiprakash Power Ventures spurted 9.01% to Rs 16.09 at 12:17 IST on BSE after the company said its board will meet on 1 March 2014, to consider recommendations aimed at reducing the company's debt and unlocking shareholders' value.

The company made the announcement during trading hour today, 28 February 2014.

Meanwhile, the BSE Sensex was up 70.69 points, or 0.34%, to 21,057.68.

On BSE, so far 16.16 lakh shares were traded in the counter, compared with an average volume of 8.99 lakh shares in the past one quarter.

The stock hit a high of Rs 16.55 and a low of Rs 14.75 so far during the day. The stock hit a 52-week high of Rs 31.55 on 28 February 2013. The stock hit a record low of Rs 8.55 on 2 August 2013.

The stock had underperformed the market over the past one month till 26 February 2014, sliding 5.99% compared with the Sensex's 0.69% fall. The scrip had also underperformed the market in past one quarter, falling 15.17% as against Sensex's 2.75% rise.

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

The board of Jaiprakash Power Ventures will meet on Saturday, 1 March 2014, to consider the recommendations of the committee of directors/audit committee aimed at reduction of debt and unlocking the shareholders' value.

Jaiprakash Power Ventures reported a net loss of Rs 153.05 crore in Q3 December 2013, higher than net loss of Rs 97.58 crore in Q3 December 2012. Total income rose 17.22% to Rs 513.83 crore in Q3 December 2013 over Q3 December 2012.

Jaiprakash Power Ventures currently operates the largest hydroelectric power plant in the private sector in India.

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