Jaiprakash Power shares plunge 10% as promoters sell

Shares of Jaiprakash Power Ventures Ltd fell as much as 10.22 percent on Tuesday after the company's promoters sold 49.7 million shares, or about 2 percent of its equity, at an average price of Rs 39 a share. The block deal was at a 6.14 percent discount to Monday's closing price 41.55 rupees, according to Thomson Reuters data. The company raised about Rs 194 crore in a series of block deals on the Bombay Stock Exchange, the ...