Jaiprakash Power shares locked in 5% lower circuit after 6 days of gains

After six consecutive days of gains, Jaiprakash Power Ventures shares suffered losses on December 9 as they were locked in 5 percent lower circuit on BSE.

The stock opened at Rs 1.66 against the previous day's close at Rs 1.59 but failed to hold the gains, getting locked in 5 percent lower circuit at Rs 1.52.

The stock fell amid the announcement by the company that MKV Rama Rao had ceased to be the whole-time director of the company since December 9. The company did not disclose the name of Rao’s successor.

Rao was the director from December 9, 2016, to December 8, 2019.