Jaiprakash Power Ventures emerges top gainer: restructuring plan on radar

Jaiprakash Power Ventures was certainly the stock of October 6. The scrip on an intraday basis surged over 10 per cent and has emerged as the highest gainer for the day. Company has informed the bourses that it will meet on October 6, to consider the recommendations of committee of directors (for Restructuring) regarding proposals of restructuring including divestment of one or more units and review the progress made in the reduction of company’s debt.

In the last 3 months shares of the company have plunged by over 25 per cent. In the last one year, shares have plunged by 35 per cent. Fifty-two week high/low stands at Rs 7.89/3.65.Meanwhile, in Q1FY17, company has posted a net loss of Rs 196.16 crores. In Q1FY16, Jaiprakash Power Ventures posted net profit of Rs 66.96 crores. The shares of the company on October 6 closed at Rs 4.56.