Shares of Jaiprakash Power Ventures Ltd (JP Power) fell sharply on Friday, November 21, slipping as much as 7.55% to an intra-day low of ₹19.79 on the National Stock Exchange (NSE). The decline snapped the stock’s two-day rally and came amid profit booking. Around 11:43 am, the stock was trading at ₹20.18, down 6.75%. The correction follows a strong run over the previous two trading sessions, during which the scrip gained 22.61%. On Thursday, JP Power had closed 6.41% higher at ₹21.57, after hitting an intra-day high of ₹22.79, up 12.43%.
The stock remains significantly elevated on a broader time frame—up 12% in the past five days, 36% over the last six months, and 12% year-to-date. The company’s shares hit a 52-week high of ₹27.70 on July 14, 2025, and a 52-week low of ₹12.36 on March 3, 2025. JP Power’s recent surge was driven by news that Adani Group Chairman Gautam Adani secured creditor approval for his ₹14,535-crore acquisition proposal for the bankrupt Jaiprakash Associates Ltd (JAL). Adani Enterprises, the group’s flagship firm, outbid Vedanta and Dalmia Bharat, receiving 89% votes from creditors—well ahead of its competitors.
JAL, which entered the Corporate Insolvency Resolution Process (CIRP) in June last year after defaulting on loans worth ₹57,185 crore, owns a range of high-value assets across real estate, cement, hospitality, power, and engineering and construction. Its landmark projects include Jaypee Greens in Greater Noida, parts of Wishtown in Noida, and the Jaypee International Sports City near the upcoming Jewar International Airport. The company also holds several commercial properties in Delhi-NCR and operates hotels in Delhi-NCR, Mussoorie, and Agra. Its manufacturing footprint includes four cement plants across Uttar Pradesh and Madhya Pradesh, along with leased limestone mines in Madhya Pradesh. Additionally, JAL maintains investments in multiple subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other group entities.