JP Power gains after fully operationalising 1320 MW project

Jaiprakash Power Ventures gained 1.47% to Rs 12.30 at 12:30 IST on BSE after the company said that the second unit of 660 megawatts of Jaypee Nigrie Super Themal Power Project declared commercial operation with effect from 21 February 2015.

The company made announcement on Saturday, 21 February 2015.

Meanwhile, the S&P BSE Sensex was up 66.62 points or 0.23% at 29,298.03.

On BSE, so far 14.32 lakh shares were traded in the counter as against average daily volume of 18.76 lakh shares in the past two weeks.

The stock hit a high of Rs 12.57 and a low of Rs 12.22 so far during the day. The stock had hit a 52-week high of Rs 26.63 on 26 May 2014. The stock had hit a 52-week low of Rs 10.40 on 11 February 2015.

The stock had underperformed the market over the past one month till 20 February 2015, gaining 0.41% compared with 1.55% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 12.97% as against Sensex's 4.15% rise.

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

Jaiprakash Power Ventures said that the second unit of 660 megawatts (MW) of Jaypee Nigrie Super Themal Power Project (JNSTPP) (A division of Jaiprakash Power Ventures) declared commercial operation with effect from 21 February 2015. Thus, 1320 MW JNSTPP of the company stands fully operational, Jaiprakash Power Ventures said. The company had announced on 3 September 2014, regarding the commencement of commercial operations of the first unit of 660 MW JNSTPP.

Jaiprakash Power Ventures reported net loss of Rs 90.21 crore in Q3 December 2014 compared with net profit of Rs 153.05 crore in Q3 December 2013. Total income jumped 108% to Rs 1068.93 crore in Q3 December 2014 over Q3 December 2013.

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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