 "JSW Energy, JP Power shares soar on Rs 9700 crore power deal")
Shares of JSW Energy were trading 12.1 percent higher in afternoon trade, while Jaiprakash Power Ventures was up 3 percent after the former agreed to acquire 100 percent stake in Himachal Baspa Power Company from Jaiprakash Power Ventures for a base enterprise value of approximately Rs 9,700 crore.
Jaiprakash Power had soared 6 percent in intra-day trade when the deal was announced.
“The board of directors of JP Power Ventures has approved the transfer of the 300 MW Baspa II hydro electric project located at Himachal Pradesh, and the 1091 MW Karcham Wangtoo hydro electric project located at Himachal Pradesh into a separate company, i.e. the Himachal Baspa Power Company Limited, as a going concern through a scheme of arrangement under Sections 391 - 394 of the Companies Act, 1956,” JSW Energy statement said.
At 3:00 pm IST JSW Energy was quoting at Rs 84.80, up Rs 9.20, or 12.13 percent and Jaiprakash Power Ventures was quoting at Rs 14.75, up Rs 0.40, or 2.79 percent on the NSE.
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
