JSW Energy witnessed a sharp rise in share price on Tuesday after the buzz that company is all set to acquire Bina Thermal Power from Jaiprakash Power Ventures for around Rs 35 billion. The thermal power plant has an installed capacity of 500 MW and has sufficient infrastructure to ramp it up to 1500 MW with marginal investment.

The Jaypee group has decided to monetize its assets aggressively over the last couple of years to bring down its overall debt of around Rs 550 billion.

Shares of JSW Energy are trading at Rs 71.15, up Rs 3.4, or 5.02% at the Bombay Stock Exchange (BSE) on Tuesday at 11:06 a.m.

Total volume of shares traded on the bourses today was higher by 19.53% to 2,877,462 compared with 22-day average volume of 2,407,405.