15 hrs ago
Jaiprakash Power Shares Jump Despite Adani Stake Report Denial
Jaiprakash Power’s share price went up sharply during trading.
It reached Rs 16.83 on the BSE.
A news report said Adani Power might increase its ownership in the company.
Adani Power said that report was completely false.
The company is also dealing with a dispute about a corporate guarantee and an alleged Rs 512 crore default.
NARCL has taken the matter to the insolvency tribunal.
JP Power’s debt has fallen substantially since 2019.
However, its stock is still down 5.7% so far this year.
Jaiprakash Power shares rose 9.64% to Rs 16.83 on the BSE.
The stock remains down 5.7% year-to-date, despite the latest rise.
Adani Power denied a report claiming it may raise its stake in JP Power to 51% by the end of 2026.
NARCL filed an insolvency application against JP Power over an alleged Rs 512 crore default linked to a corporate guarantee.
JP Power’s total debt fell from Rs 11,149 crore in March 2019 to Rs 3,380 crore as of March 31, 2026.
- Who
- Jaiprakash Power, Adani Power, NARCL, SBI and Crisil Ratings are central to the report.
- What
- Jaiprakash Power shares rose nearly 10% after a report about a possible Adani Power stake increase, which Adani Power denied.
- Where
- The share movement occurred on the Bombay Stock Exchange; related proceedings involve the National Company Law Tribunal and the Debt Recovery Tribunal in New Delhi.
- When
- The shares rose today; the article also cites events from December 2023, April 2019, August 31, March 11, 2026, and March 31, 2026.
- Why
- The rise followed media speculation about Adani Power’s stake, while the company also faces an insolvency application over an alleged default tied to a corporate guarantee.
Media Report
Adani Power
Possible stake increase
Media Report
A media report suggested that Adani Power was likely to increase its stake in JP Power to 51% before the end of 2026.
Adani Power
Adani Power said the report was entirely false and that it had not taken any such action.
Debt and insolvency dispute
Media Report
NARCL’s application alleges that JP Power defaulted on Rs 512 crore, plus interest and other charges, related to a corporate guarantee for Jaiprakash Associates’ borrowings.
Adani Power
The article notes that the guarantee was expected to be released by SBI under a restructuring framework agreement signed in April 2019, while the reported dispute remains subject to proceedings.
Key facts
- Share price high
- Rs 16.83 per share on the BSE
- Intraday gain
- 9.64%
- Year-to-date performance
- Down 5.7%
- Denied report
- Adani Power denied plans to increase its JP Power stake to 51% by the end of 2026.
- Alleged default
- Rs 512 crore, plus interest and other charges
- Debt as of March 31, 2026
- Rs 3,380 crore
- Debt as of March 31, 2019
- Rs 11,149 crore
Quotes
Adani Power Limited
The company responding to a media report about a potential increase in its stake in JP Power.
“We would like to clarify that this article is entirely false. Adani Power Limited has not undertaken any such action, as claimed in the article.”
businesstoday.in
Sources
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