JP Power share price, Nov. 21 -- Shares of Jaiprakash Power Ventures (JP Power) reversed course on Friday, November 21, after a significant rally over the last two trading sessions.

JP Power's share price fell as much as 8.5% to the day's low of Rs.19.79 on the BSE, amid profit-taking and high volumes on the counter.

The scrip had surged 29% over the last two days after Adani group pipped Vedanta to win the approval of creditors of Jaiprakash Associates (JAL) for its Rs.14,535-crore acquisition proposal for the bankrupt infrastructure group.

"The 8% slide in JP Power looks less like a structural reversal and more like the market catching its breath. The stock has rallied sharply over the past few weeks, and when a counter runs ahead of...