MARKET EYE-India's Jaiprakash Power shares fall; promoters sell

Tue Dec 18, 2012 11:56am IST

Related Topics

Stocks

   

* Shares of Jaiprakash Power Ventures Ltd fell as much as 10.22 percent on Tuesday after the company's promoters sold 49.7 million shares, or about 2 percent of its equity, at an average price of 39 rupees a share. * The block deal was at a 6.14 percent discount to Monday's closing price 41.55 rupees, according to Thomson Reuters data. * The company raised about 1.94 billion rupees ($35.41 million) in a series of block deals on the Bombay Stock Exchange, the data showed. * Bank of America Merrill Lynch was the sole manager to the transaction, according to two sources with direct knowledge of the deal. * Jaiprakash Power and Bank of America Merrill officials were not immediately available to comment. ($1 = 54.7900 rupees) (indulal.p@thomsonreuters.com)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Trade Deal

Global Trade Deal

Rural votes, old traumas drive India's WTO brinkmanship.`  Full Article 

E-Commerce Funding

E-Commerce Funding

E-tailer Flipkart raises $1 billion in funding.  Full Article 

Chopper Deal

Chopper Deal

Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe.  Full Article 

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

New Frontiers

New Frontiers

EXCLUSIVE - Goldman moves executive to new role building ETFs.  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Argentina Debt Default

Argentina Debt Default

Insight - Jaded Argentines brace for looming debt default   Full Article 

Anti-trust Probe

Anti-trust Probe

Microsoft targeted in apparent Chinese anti-trust probe  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage