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News Topical, Digital Desk : Shares of the Jaypee Group company saw a sharp rise after Jaiprakash Associates' name was linked to Adani Enterprises ( Adani JP Associates Deal ). This surge came after the NCLT approved a ₹15,000 crore resolution plan. Vedanta Group (Anil Agarwal) was also in the running to acquire Jaypee Associates, however, Vedanta's objections have been dismissed.
Why did JP Power shares rise?
The share we are telling you about here is Jaypee Power Share. It jumped at rocket speed by 10% today. While on one hand people's attention was on the shares of Jaypee Associates, a listed company of Jaypee Group, after the news of this acquisition by Adani, on the other hand, Jaypee Power share won the race. Its share made a high level of Rs 15.63 today. Currently, it is trading at Rs 15.18 with a rise of 8.58% at 10:20 am.
JP Power shares have given 494% returns in 5 years.
Jaypee Power shares may have fallen 14.59% this year, but with the addition of Adani's name, they're seeing a remarkable surge. Despite the recent decline, the company's shares have a 5-year return of 489.80%. This means that anyone who invested even 30,000 rupees in this stock five years ago would have seen their investment value reach 1,48,200 rupees. This means they would have reached nearly 1.5 lakh rupees.
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