JP Power gets "on"
By
Research Desk
about 8 years ago
JP Power remains the top gainer on the BSE since the opening bell. The stock rose almost 9% to Rs.4.55 and remains firmly at the same levels.
The reason for this rise is that the company announced yesterday that it has called a Board meeting today to consider the recommendations of a committee of directors (for restructuring).
The proposals include divestment of one or more units and review the progress made in the reduction of its debt. The company is currently sitting on a total debt in excess of Rs.22,000 crore.
It recently decided to sell its 500 MW Bina power plant to JSW Energy for an enterprise value of Rs.2,700 crore.