Shares of Jaiprakash Power Ventures (JP Power) surged 5% on Thursday, August 28, hitting the upper price band of ₹18.96, after the company announced plans to invest in a new solar power project in Madhya Pradesh.
The company’s Board of Directors, in a meeting held on August 27, 2025, approved exploring options to set up a 50 MW Solar PV Power Plant at its existing 500 MW Jaypee Bina Thermal Power Plant (JBTTP) site in Bina, Madhya Pradesh. The project, which will require approvals from regulators and lenders, is estimated to cost around ₹300 crore.
Despite weakness in the broader market, triggered by the US imposing an additional 25% tariff on Indian imports, JP Power stock managed to defy the trend and hit its 5% upper circuit.
This isn’t the first time JP Power has caught investor attention in recent weeks. Last month, shares of Jaiprakash Power Ventures saw renewed buying interest following reports that the Adani Group was in the race to acquire its parent, Jaiprakash Associates Ltd. (JAL). Business Standard had reported that Adani emerged as the lead bidder, offering up to ₹12,500 crore for JAL, which is currently undergoing insolvency proceedings.
Along with Adani, four other companies, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech, have also submitted resolution plans to acquire JAL.
