Here is why Jaiprakash Power Ventures shares are locked in 5% upper circuit

Shares of power generation company, Jaiprakash Power Ventures, rose by its daily maximum limit of 5% to hit an intraday high of ₹18.96 on the BSE. On the National Stock Exchange, Jaiprakash Power Ventures shares were locked in 5% upper circuit at ₹18.95. The sharp jump in Jaiprakash Power Ventures shares came after the company on Wednesday, August 27, informed exchanges that it is exploring a proposal to set up a solar PV power plant of approximately 50-megawatt capacity.

"The Board of Directors in its meeting held today i.e. 27th August, 2025, has considered the proposal to explore the options for setting up of Solar PV Power Plant of approx. 50 MW capacity at the Company's existing Thermal Power Project site situated at Bina, Madhya Pradesh," Jaiprakash Power Ventures said in a stock exchange filing.

The project will entail investment or ₹300 crore and requisite approvals from authorities and its lenders, Jaiprakash Power Ventures added.

Last month, Jaiprakash Power Ventures shares came under buying interest on reports that Adani Group was planning to acquire Jaiprakash Associates. Business Standard had last month reported that Adani group had emerged as the lead bidder to acquire Jaiprakash Associates Ltd. (JAL), which is undergoing insolvency proceedings, with a bid of up to ₹12,500 crore.

Jaiprakash Associates holds a 24% stake in JP Power.

Quoting people with knowledge of the matter, the report stated that the conglomerate has proposed more than ₹8,000 crore as an upfront payment without any preconditions.

Five companies—Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech—have submitted their resolution plans to acquire JAL.

Meanwhile, Jaiprakash Power Ventures shares were witnessing strong demand on the National Stock Exchanges as there were pending buy orders for 52,26,366 shares while there were no sellers. On the BSE, 17,58,313 Jaiprakash Power Ventures shares were witnessing pending buy orders.

The stock was locked in upper circuit at ₹18.96 and ₹18.95 on the BSE and NSE respectively.