Jaiprakash Power Ventures Ltd pre-pays loans amounting to Rs. 299.51 crores
Posted On: 2021-04-01 04:09:37 (Time Zone: Arizona, USA)
Jaiprakash Power Ventures Ltd earlier this week has pre-paid its Long Term Loans/Working Capital Loans amounting to Rs. 299.51 Crs. These pre-payments were made through sale proceeds of Company s 74% stake in Jaypee Powergrid Limited. This is in line with the Company s endeavor to continue to reduce its debt.
Further, CRISIL and ACUITE, both rating agencies, have assigned rating of BBB- on the bank facilities of the Company and have indicated the outlook as Stable .
Shares of Jaiprakash Power Ventures Limited was last trading in BSE at Rs.3.44 as compared to the previous close of Rs. 3.28. The total number of shares traded during the day was 31786746 in over 14812 trades.
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Benchmark indices traded in a narrow range near the day s high in mid morning trade. The Nifty traded above the 15,050 level. Barring the Nifty Auto index, all the sectoral indices on the NSE were trading in the green.
At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 462 points or 0.92% at 50,758.64. The Nifty 50 index surged 152.35 points or 1.02% at 15,071.70.
In broader market, the S&P BSE Mid-Cap index was up 1.15% while the S&P BSE Small-Cap index rallied 1.56%.
The market breadth was strong. On the BSE, 1822 shares rose and 880 shares fell. A total of 159 shares were unchanged.
COVID-19 Update:
Jaiprakash Power Ventures (JPVL) on Tuesday said its board has approved disinvestment of 74% stake in Jaypee Powergrid to Power Grid Corporation of India (PGCIL).Jaypee Powergrid (JPL) is a joint venture of PGCIL and JPVL. The transaction would not fall under related party transactions. The amount of consideration will be informed on execution of share purchase agreement and the transaction is expected to be completed by 31 March 2021.
On a consolidated basis, Jaiprakash Power Ventures reported a net loss of Rs 8.61 crore in Q3 December 2020 as compared to a net loss of Rs 1,816.05 crore in Q3 December 2019. Net sales surged 18.4% to Rs 987.92 crore Q3 FY21 over Q3 FY20.
In the overnight session, Wall Street ended lower, pulled down by losses in Apple and Tesla. The Dow Jones Industrial Average fell 0.46%, the S&P 500 lost 0.81% and the Nasdaq Composite dropped 1.69%. Meanwhile, in Asia, the stocks were trading marginally higher as investors shrugged off concerns that stocks may have rallied too far too fast in the past year and focused instead on optimism that more imminent US stimulus will energise the global economic recovery. Australia’s S&P/ASX 200 index rose 0.6%, South Korea’s Kospi index added 0.3% while Japan s Topix index was flat. Tracking cues from global peers, domestic markets look set to open higher for the 3rd day in a row, although gains are likely to be meek. At 7.15 am, Nifty futures on SGX were up 23 points, indicating a flat-to-positive start for D-Street.
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