Jaiprakash Power Ventures surged 10.33% to Rs 8.33 after the company announced that its board will meet on Monday, 12 December 2022 to consider the proposal of divestment of Jaypee Nigrie Cement Grinding Unit.
In an exchange filing, the company said that, a meeting of the board of directors was convened on Monday, 12 December 2022, to inform the board of the recommendations of the audit committee to consider the proposal of divestment of Jaypee Nigrie Cement Grinding Unit.
Jaiprakash Power Ventures plans, develops, implements and operates power projects in India. it currently operates the largest hydroelectric power plant in the private sector in India.
On a consolidated basis, the company reported a net profit of Rs 75.42 crore in Q2 FY23 as against a net loss of Rs 1.42 crore in Q2 FY22. Net sales rose 53.60% year on year to Rs 1385.37 crore in quarter ended 30 September 2022.
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