JP Power share price hits 5% upper circuit on THIS update. Do you own?

Small-cap stock Jaiprakash Power Ventures (JP Power) surged 5% to hit the upper price band of ₹18.96 in intraday deals on Thursday, August 28, following the announcement that it plans to set up a solar power project in Madhya Pradesh at an estimated investment of ₹300 crore.

In an exchange filing on Wednesday, the Jaypee group announced that its board met and considered the proposal to explore the options for setting up of Solar PV Power Plant of 50 MW capacity at the company's existing Thermal Power Project site situated at Bina, Madhya Pradesh, i.e. 500 MW Jaypee Bina Thermal Power Plant (JBTTP).

The company, however, added that this proposal is subject to such approvals as may be required, including that of lenders. The estimated cost of investment for the project is ₹300 crore.

According to the company's annual report released in June this year, it presently owns and operates three power plants with an aggregate capacity of 2220 MW.

JP Power Earnings Snapshot

The latest earnings announcement by the small-cap company for the June quarter of fiscal 2025-26 (FY26) showed that its net profit declined by 20% year-on-year (YoY) to ₹278.13 crore from ₹348.54 crore in the same period last year on the back of lower revenues.

JP Power's total income also decreased to ₹1,630.88 crore in the quarter from ₹1,779.06 crore in the same period a year ago.

JP Power Share Price Trend

Small-cap stock below ₹20 JP Power opened the session on a firm note at ₹18.94 per share, as against its last closing price of ₹18.06. It soon extended gains to hit a high of ₹18.96, also its 5% upper price band.

The gains in JP Power share price came despite selling pressure in the Indian stock market following the implementation of additional 25% tariffs on imports from India by the US.

According to BSE data, JP Power shares have lost 6% for the week. However, on a six-month basis, the scrip is almost up 29%.

Meanwhile, on a longer term of two years, JP Power has emerged as a multibagger stock, delivering 137% returns. Over five years, the small-cap stock has surged 504%.

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