Stock Cash Tips: JSPL up 3%, arm to divest 4.12% stake in India Energy Exchange

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“As part of the monetisation plan already advised, Jindal Power, a subsidiary company of JSPL has entered into a definitive agreement to divest 4.12 percent holding in India Energy Exchange at an undisclosed,” says the company in its filing.

Jindal Steel & Power (JSPL) shares gained nearly 3 percent intraday Tuesday after its subsidiary divested stake in India Energy Exchange.

By the end of March 2015, the company had consolidated debt of Rs 42,252 crore, increased significantly from Rs 34,230 crore in March 2014.

At 09:33 hours IST, the scrip of Jindal Steel & Power was quoting at Rs 60.65, up Rs 0.90, or 1.51 percent on the BSE.