JSW Energy share price: Following the company’s announcement of its final dividend for FY23 and March quarter results, shares of JSW Energy increased 6% today, May 8. Additionally, the firm board approved the raising of money in one or more tranches, with a maximum limit of ₹10,000 crore.
For the March quarter, JSW Energy recorded a 22.4 per cent YoY increase in net profit, coming in at ₹345.30 crore. Revenue increased 3.2% YoY during the same time to ₹2,755.90 crore.
JSW Energy with Kotak Institutional Equities
According to Kotak Institutional Equities, JSW Energy is still investing in new thermal and renewable assets as part of its aggressive expansion strategy. With a revised SoTP-based fair value of ₹275 per share, up from ₹235 per share before, it kept its “Sell” rating on the stock, indicating a 56% potential downside.
Financial Markets for JSW Energy
According to JM Financial, gains in net generation, RE additions, increased thermal generation, and purchased assets drove JSW Energy’s revenue rise.
It added, “By signing a technology licencing agreement with SANY Renewable Energy, China, it is also securing the wind energy supply chain.” We think the corporation will reach its goal of 10GW/20GW of renewable energy capacity by 2025/2030. We keep our BUY recommendation on the stock with a ₹648 SOTP-based target price.
