JP Power gets turned on

Jaiprakash Power Ventures is up over 1.5% at Rs.12.50 with some 48 lakh shares changing hands during the day.

This small spurt of interest in the stock is a reaction to the company issuing an update first in September that it has commenced commercial operations of the First Unit of 660 MW ( 2 x 660 MW = 1320 MW) of Jaypee Nigrie Super Thermal Power Project (JNSTPP) (A Division of Jaiprakash Power Ventures ). And now that news is that the second Unit of 660 MW of the said project was also declared commercial operation with effect from 00.00 Hrs. of February 21, 2015. Thus, 1320 MW JNSTPP of the Company stands fully operational.

This is a small good news for the company and is expected to soon taper off as the overhang of its high debt once again takes precedence.