Small-cap stock Jaiprakash Power Ventures (JP Power) surged 5% to hit the upper price band of ₹18.96 in intraday deals on Thursday, August 28, following the announcement that its plans to set up a solar power project in Madhya Pradesh at an estimated investment of ₹300 crore.

Jaiprakash Power Ventures is gearing up to establish a 50 MW solar power project in Madhya Pradesh, with an anticipated investment of Rs 300 crore. The company's board has reviewed the proposal, outlining plans to situate the solar plant at its existing Jaypee Bina Thermal Power Plant site.

Indian markets gained momentum in the second half of Tuesday’s session, with Sensex rising nearly 300 points and Nifty50 closing above 25,500. Sectoral gains were led by PSU, utilities, power, and realty stocks, while metals and auto sectors declined.

Investors remained cautious ahead of the Q1 earnings season and the global trade deal developments. Broader indices slipped slightly, but the retail mood remained bullish on the Nifty 50.

JP Power surged for a second straight session following acquisition buzz around parent JP Associates. An analyst flagged ₹20–₹23 as key levels, with valuation metrics indicating potential upside.

Lenders of Jaiprakash Associates Ltd (JAL) have turned down Jaypee Infratech's request to accept its resolution plan to acquire the bankrupt diversified company.Five companies -- Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech -- have submitted their resolution plans to acquire JAL.However, lenders of JAL, on June 25, had rejected the resolution plan of Suraksha Group-owned Jaypee Infratech Ltd as the bid was submitted late and without earnest money.According to sources, Jaypee Infratech requested the Committee of Creditors (CoC) of JAL to reconsider the decision to reject its bid. It sought permission to participate in the insolvency process.In a meeting on July 1, the members of the CoC unanimously agreed not to change its earlier decision to reject Jaypee Infratech's resolution plan, they added.In the meeting, the resolution professional also presented a brief summary of the five resolution plans, according to sources.A detailed summary of all five resolution plans would be prepared, based on which the highest bidder will be determined, they added.