Jaiprakash Power shares rise nearly 10% on disinvestment proposal notice

Shares of the electric utilities company, Jaiprakash Power soared after the announcement made on proposals of restructuring including disinvestment of the company’s units.

The company’s shares climbed 9.42% to Rs 4.53 a share on BSE in early trade on Thursday.

 “…the 110th meeting of the Board of Directors of the Company will be held on October 06, 2016, inter alia, 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,” the company said in a statement.

The company also stated that in accordance with SEBI’s prohibition of insider trading regulations Jaiprakash Power’s trading windows will remain shut for its employees, Directors, Key Managerial Personnel and Designated persons and their immediate relatives from October 05, 2016 (5 pm) to October 08, 2016.