JP Power shares surge 14% after AGM lifts inverter sentiment

Time of India

5 days ago

Shares of
Jaiprakash Power Ventures Ltd
(JP Power) surged nearly 14% on Monday to close at Rs 21.57, gaining momentum after the company successfully concluded its 30th Annual General Meeting (
AGM
) over the weekend.
The AGM, held virtually on July 5, 2025, was conducted via video conferencing (VC)/other audio-visual means (OAVM), in line with the latest regulatory guidelines issued by the Ministry of Corporate Affairs (MCA) and SEBI.
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During the meeting, all key resolutions outlined in the notice dated May 1, 2025, were presented, including adoption of financial statements, reappointment of directors, and approvals for auditor appointments and director remuneration. The company also enabled electronic voting through
CDSL
's e-voting platform, both before and during the AGM, ensuring transparency and shareholder participation.
JP Power Chairman Manoj Gaur addressed shareholders during the AGM, sharing key insights into the company's performance and outlook. The meeting was attended by 107 shareholders via video conferencing, including senior board members and committee heads.
The market responded positively to the company's governance and communication efforts, with increased investor confidence reflected in the day's sharp stock price movement.
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On the technical front, Jaiprakash Power Ventures Ltd. is showing strong
bullish momentum
:
The Relative Strength Index (RSI-14) stands at 69.5, indicating the stock is approaching overbought territory. For context, an RSI below 30 typically signals an oversold condition, while an RSI above 70 suggests the stock may be overbought and could be due for a pullback.
Additionally, the stock is trading above all 8 key Simple Moving Averages (SMAs) — ranging from the short-term 5-day to the long-term 200-day SMA. This alignment across timeframes is considered a bullish signal, reflecting sustained upward momentum and strong underlying trend strength.