Shares of Jaiprakash Power, Finolex Industries, and Jindal Worldwide experienced substantial rallies today, with some climbing up to 19%, even as the broader market exhibited cautious sentiment.
Jaiprakash Power Gains on Adani Power Acquisition
Jaiprakash Power shares surged by 19%, reaching Rs 22.79 from their previous close of Rs 19.14. This significant rise was driven by an announcement from Adani Power, detailing definitive agreements to acquire a 24% stake in Jaiprakash Power Ventures from Jaiprakash Associates. The deal, valued at Rs 2,993.59 crore, is part of an NCLT-approved resolution plan, boosting investor confidence in the power sector entity.
Finolex Industries Reports Strong Q4 Performance
Finolex Industries saw its shares climb 12% to Rs 200.25, following the release of impressive Q4 earnings. The company reported a 59% year-on-year increase in consolidated net profit, reaching Rs 261 crore for the quarter, compared to Rs 164.58 crore in the corresponding period last year. Revenue from operations also rose by 12% year-on-year to Rs 1,314 crore, aided by improved realizations.
Jindal Worldwide Rallies Amid Q4 Update
Jindal Worldwide shares increased by 14.17%, closing at Rs 34.40. This rally came despite a slight dip in the company's full-year FY26 net profit. For the March 2026 quarter, Jindal Worldwide reported an 18.66% rise in net profit to Rs 26.13 crore, alongside a 5.72% increase in sales to Rs 640.18 crore. Investors reacted positively to these quarterly figures, overlooking the marginal full-year decline.