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JSW rallies on Agreeing to Buy Hydro Projects
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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