JSW Energy surges 6 per cent

Dynamic vertical of JSW group, JSW Energy has again managed to hog the limelight. The shares of JSW energy on Friday on an intraday basis have surged by over  6 per cent. The shares are trading at Rs 83.55 as on 11.17 am.
The company on June 8 had moved 15 per cent higher at Rs 81.20 as the company was the top contender to get the 750 MW Karnataka State Electricity Board contract. The shares June 9 had also surged by 13.49 per cent on the exchanges.

The shares on the news have rallied over three days. The shares in the last 5 days have increased by 18 per cent. For the week the shares high/low stand at Rs 83.85/69. The company’s 52 week high and low stand at Rs 109.65/59.10.

JSW Energy’s net for the March quarter has dipped by six per cent to Rs 305 crore against Rs 325 crore during the corresponding quarter of the previous year. The results were timid due to higher interest and depreciation expense incurred after the acquisition of hydro assets in Himachal Pradesh.

The total income from operations have risen by 22 per cent to Rs 2,681 crore, against Rs 2,190 crore, driven largely by increased generation from the thermal plants and was supplemented by additional generation from the hydro plants. 

JSW energy is an India based private power generation company. The company’s business segment includes power generation, power trading, power transmission, mining and equipment manufacturing.