Jaiprakash Power Ventures (NSE: JPPOWER) shares are up 20% on today and 40% over the past couple of trading days. There’s no particular news release to explain this rise in JPPOWER shares - not unless we’re to draw very large conclusions from a very small piece of news.
Now, given the number of languages in India it is possible that there’s some news in a language other than English. This would mean that we’re simply not seeing what it is. But given that number of languages in India financial news - the financial markets as a whole - does tend to be in English and in English alone. So we don’t think that we are missing something. It’s that the news isn’t there, not that we can’t see it.
The company itself: “Jaiprakash Power Ventures Limited - We are an Indian power company, incorporated on Dec 21, 1994, that is part of India’s leading Infrastructure conglomerate – Jaypee Group. We plan, develop, implement and operate power projects in India. We currently operate the largest hydroelectric power plant in the private sector in India.” This involves both hydroelectric power and also thermal coal stations.
Jaiprakash Power Ventures share price from Google Finance
Jaiprakash Power has been in loss recently and it turned around into profit in its most recent accounts. But those were some time ago and are not going to be the motive force os the share price right now.
What must be the driver is this stock market announcement: “JAIPRAKASH POWER VENTURES LIMITED has informed the Exchange about Board Meeting to be held on 10-Nov-2023 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2023”
We’re obviously coming up to the announcement of the next set of quarterly results. Our supposition is that the share price is being bid up by those who think those results are going to be very good. Given the near total lack of information the rest of us have they might be right too. It’s possible to speculate about chart patterns but we don’t, here, believe in that nonsense.
That lack of information is a hindrance to understanding what is happening, of course. But we would run with the idea that it’s hope value, speculation, being built into the share price ahead of those next quarterly results.
