New Delhi, March 18 -- Shares of Jaiprakash Power (JP Power) surged nearly 12% on Wednesday, March 18, amid higher-than-usual volumes and after the National Company Law Tribunal (NCLT) approved Adani's takeover bid for its promoter, Jaiprakash Associates (JAL).

Nearly 99 lakh shares of JP Power shares changed hands on the BSE as of 10.40 am, nearly thrice the two-week average of 38 lakh shares. Meanwhile, on NSE, 1,695.58 lakh shares were traded.

JP Power share price rose as much as 11.80% to Rs.15.63 on the National Stock Exchange (NSE) as against its last closing price of Rs.13.98. This is the second straight day of gains for the small-cap stock below Rs.20.

JP Associates, which owns a 24% stake in JP Power, announced in an exchange ...