JSW Energy shares jump 6% today: Kotak sees 56% downside

JSW Energy share price: The company board also approved raising of funds not exceeding ₹10,000 crore in one or more tranches.

Published on: May 8, 2024, 11:01:51 IST

By HT News Desk

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JSW Energy share price: Shares of JSW Energy rose 6 per cent today (May 8) after the company declared March quarter results and announced its final dividend for FY23. The company board also approved raising of funds not exceeding ₹10,000 crore in one or more tranches.

JSW Energy share price: JSW Energy reported a 22.4 per cent YoY rise in net profit at ₹345.30 crore for the March quarter.

JSW Energy Q4 results

Kotak Institutional Equities on JSW Energy

Kotak Institutional Equities said that JSW Energy continues to focus on an aggressive growth path, with investments in new thermal and renewable assets. It maintained ‘Sell’ on the stock with a revised SoTP-based fair value of ₹275 per share from ₹235 per share earlier- a 56 per cent potential downside for the stock.

JM Financial on JSW Energy

JM Financial said that JSW Energy's revenue growth was led by improvement in net generation, RE additions, higher thermal generation and acquired assets.

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It said, “It is also securing the wind energy supply chain with the signing of a technology licensing agreement with SANY Renewable Energy, China. We believe the company is right on track to achieve its target of 10GW/20GW RE capacity by 2025/2030. We maintain our BUY rating on the stock, with a SOTP-based target price of ₹648.”

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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