Jaiprakash Power Ventures Ltd updates on arbitration

Upon invocation of arbitral proceedings by BHEL in two matters; (a) one pertaining to ESP contract pertaining to 2x660 MW Jaypee Nigrie Super Thermal Power Plant (JNSTTP) and (b) second pertaining to BTG contract pertaining to 2x250 MW Jaypee Bina Thermal Power Plant (JBTPP), the Arbitral Tribunal has, on 4th October, 2023, awarded some of the claims of Bharat Heavy Electricals Limited (BHEL) in their favour and a counter claim in Company's favour.

The Company is examining the impact of the above orders and seeking legal advice to decide about further course of action to be taken in this respect.

Shares of Jaiprakash Power Ventures Limited was last trading in BSE at Rs. 9.83 as compared to the previous close of Rs. 9.83. The total number of shares traded during the day was 29351468 in over 10168 trades.

The stock hit an intraday high of Rs. 9.94 and intraday low of 9.67. The net turnover during the day was Rs. 287053225.00.

Source : Equity Bulls

Keywords

JaiprakashPowerVentures INE351F01018 BHEL Arbitration