Why are shares of JP Associates, Va Tech Wabag, JP Power, Rail Vikas Nigam and Sandu Pharma, rallying today?

A host of stocks jumped 5-12 per cent in Monday’s trade amid stock-specific developments. JP Associates and JP Power gained, as boards of the companies will meet today to discuss divestment proposals. Rail Vikas Nigam gained on forming a joint venture while Sandu Pharmaceuticals surged on entering an memorandum of understanding (MoU) with Vietnam's Bach Ma Van Xuan Pharmaceuticals. Shares of VA Tech Wabag advanced on receiving a repeat order.

Shares of Rail Vikas Nigam climbed 4.97 per cent to hit a high of Rs 70.75 after the company said it has formed a Joint Venture Company with Kyrgyzindustry- OJSC. The joint venture namely ‘Kyrgyzindustry-RVNL’ is a closed joint stock company (CJSC). Earlier, the company had been declared successful bidder in an International project in Maldives named as Development of UTF (Uthuru Thila Falhu- Island) Harbour.

Shares of VA Tech Wabag surged 12 per cent to hit a high of Rs 374.35 apiece, as WABAG Water Services SRL, Romania (WABAG Romania), a European subsidiary, secured a repeat order from Purolite SRL, Romania (Purolite) worth about Rs 260 crore for upgrading an industrial wastewater treatment plant in Romania.

Shares of Sandu Pharmaceuticals jumped 5.05 per cent to hit a high of Rs 66.55 apiece after the drug maker entered into MoU with Bach Ma Van Xuan Pharmaceuticals. The purpose of this MOU is to further business relationship and to broaden the scope between two companies in Vietnam and India. Specifically Bach Ma Van Xuan Company brings Sandu’s traditional medicine and cosmetic products to distribution in Vietnam.

Jaiprakash Power Ventures jumped 9.27 per cent to Rs 8.25 a piece as a meeting of the board of directors has been convened on Monday, at a shorter notice, to apprise the Board of the recommendations of the Audit Committee to consider the proposal of divestment of Jaypee Nigrie Cement grinding unit.

Shares of JP Associates also soared 9.92 per cent to Rs 11.74 after the company said its board will meet today, at a shorter notice, to apprise the board of the recommendations of the Audit Committee and the progress on the various divestment initiatives.

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