Shares of Jaiprakash Power Ventures (JP Power share) continued their upward momentum for the second straight session on Thursday, November 20, amid growing speculation that the Adani Group is set to win the race to acquire the debt-ridden Jaiprakash Associates (JAL).
The small-cap stock surged nearly 12% intraday, touching a high of ₹22.79 on the NSE. With this latest spike, JP Power has now rallied over 27% in just two trading sessions, drawing strong interest from investors and analysts alike.
Why JP Power Shares Are Rising
According to multiple media reports, lenders to JP Associates have indicated preference for Adani’s takeover bid, choosing it over Vedanta despite Vedanta offering a larger total value. Analysts believe this development is a key driver behind JP Power’s sharp rally.
Since JAL holds around 24% stake in JP Power, any positive outcome in the resolution process could directly uplift its associated businesses.
Analysts See Renewed Market Confidence
Harshal Dasani, Business Head at INVAsset PMS, said the market’s reaction reflects optimism about what an Adani-led revival of JAL could mean for JP Power.
“The strong rally in JP Power highlights investor confidence that a financially robust group like Adani taking charge of JAL may unlock significant value. Improved balance-sheet health, better operational efficiency, and a clearer path to growth are being factored into current valuations,” Dasani noted.
He also added that the surge is largely driven by forward-looking expectations, and sustained momentum will depend on final deal approvals, creditor agreements, and clarity on how JAL’s stake in JP Power is handled.
Why Creditors Prefer Adani Over Vedanta
Reports suggest that lenders—mostly Indian banks—favored Adani’s proposal due to a larger upfront payment, even though Vedanta’s total bid amount was higher.
Vedanta offer: ₹17,000 crore
Adani offer: ₹13,500 crore
Why Adani leads: faster payout within 1.5–2 years, compared to Vedanta’s five-year plan
Other bidders included Dalmia Bharat, Jindal Power and PNC Infratech. JAL’s promoter Manoj Gaur also placed a last-minute bid but later withdrew it.
JP Power: Technical Chart Outlook
Technical analysts believe JP Power’s price action signals a potential long-term trend shift.
According to Anshul Jain, Head of Research at Lakshmishree:
The stock is forming a 22-month rounding bottom on the monthly charts
It recently bounced off the 10-month moving average, indicating steady accumulation
A sustained breakout above ₹20 could open targets in the ₹24–₹26 range
Rising volumes during the breakout would confirm entry into a stronger uptrend
Jain notes that the price structure suggests long-term investors may be stepping in as confidence builds around the company’s future.
