JSW rallies on Agreeing to Buy Hydro Projects

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JSW rallies on Agreeing to Buy Hydro Projects
JSW Energy: Quotes, News
BSE 56.80BSE Quote1.8 (3.17%)
NSE 56.95NSE Quote1.65 (2.90%)
Jaiprakash Power Ventures: Quotes, News
BSE 4.07BSE Quote0.02 (0.49%)
NSE 4.05NSE Quote0.05 (1.23%)
Shares of JSW Energy surged more than 11% on Monday after the company reported to acquire from Jaiprakash Power Ventures Limited and other shareholders.

It is 100% stake in Himachal Baspa Power Company Limited for a base Enterprise Value of approximately Rs. 9,700 crores, subject to mutually agreed adjustments.

JSW Energy agrees to acquire 300 MW Baspa II hydro electric project located at Himachal Pradesh, and 1091 MW Karcham Wangtoo hydro electric project located at Himachal Pradesh from the Jaiprakash Power Ventures Limited.

At 2.45 pm, shares of the JSW Energy on BSE was seen trading higher by 12.33% at Rs 85.20 by touching intra-day high of Rs 86.

Shares of JP Power was seen trading at Rs 14.86 higher by 3.81%. It touched intra-day high of 15.24.

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Read more about: jsw, shares
Story first published: Monday, November 17, 2014, 14:56 [IST]
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