Jaiprakash Power shares fall; promoters sell
Reuters Market Eye - Shares of Jaiprakash Power Ventures Ltd(JAPR.BO) 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 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.
- Tweet this
- Share this
- Digg this
Scotland has chosen to stay in the United Kingdom, spurning independence in a historic referendum that had worried allies and investors, results showed on Friday with more than two thirds of the vote declared. Full Article
Obama to nominate Indian-American Richard Verma as India ambassador - congressional source. Full Article