Jaiprakash Power Ventures Shares Rally 12% After Settlement

Shares of Jaiprakash Power Ventures rallied nearly 12% during Monday's trading session following a payment settlement agreement with NARCL.

The company agreed to pay Rs 511 crore as full and final payment to NARCL, after which IBC proceedings will stand withdrawn.

The stock traded at Rs 17.25 per share on the BSE with a market capitalisation of Rs 11,822.22 crore following the announcement.