Why $JPPOWER Hits 20% Upper Circuit today?

Shares of $JPPOWER surged 20% to hit a nine-month high of ₹22.95 after $ADANIPOWER announced the acquisition of a 24% stake in the company from Jaiprakash Associates. The transaction, valued at around Rs 2,994 crore, has significantly boosted investor sentiment around the stock. Along with the stake purchase, Adani Power is also acquiring Jaiprakash Associates’ 180 MW thermal power plant at Churk and its 11.49% stake in Prayagraj Power Generation Company for ₹1,200 crore. The acquisition is aimed at strengthening Adani Power’s presence across thermal and hydro power generation. JP Power currently operates power assets with an aggregate capacity of around 2,220 MW along with cement grinding and coal mining operations. The company reported FY26 revenue of ₹5,563 crore, maintaining annual revenues above ₹5,000 crore for the last three financial years. The stock has rallied sharply over recent months, gaining nearly 64% in less than two months as investors anticipate stronger strategic backing and operational synergies following the Adani transaction