By Jsw Neo Energy
Copyright indiatimes
AgenciesJSW Energy shares saw a rise of 3% on the NSE following the acquisition of Tidong Power Generation by JSW Neo Energy.
Shares of JSW Energy shares rallied as much as 3% to their day’s high of Rs 552 on the NSE on Friday, September 19, after the company announced that JSW Neo Energy, a wholly-owned subsidiary, has signed a definitive agreement with Statkraft IH Holding AS to acquireTidong Power Generation Private Limited. With today’s gain, the stock is up for a second consecutive session.The deal is valued at Rs 39 crore and the acquisition would help the company in achieving its renewable-led capacity growth target of 30 GW by FY 2030, the company said in a regulatory filing on September 18. The Company has set a target to reach 30 GW generation capacity and 40 GWh of storage capacity by FY 2030, with the share of renewable energy generation increasing to 70% by FY 2030.Also read: Rail stocks surge up to 16% in a month. Short bounce-back or meaningful rally?In a separate development, GE Power announced the demerger of its power boiler manufacturing and supply business into JSW Energy. JSW Energy will issue 10 shares for every 139 shares held in GE Power, the exchange filing said. The demerged entity posted revenues of Rs 529.5 crore in FY25, accounting for about 5.1% of JSW Energy’s turnover.Jefferies has a Buy call on the scrip with a price target of Rs 700 per share. This implies an upside potential of 30% from the last close on the NSE. The brokerage said that JSW Energy is targeting capacity additions of 4.4-4.9 GW in FY26, which is above its estimate of 3.1 GW. The brokerage expects capacity expansion to drive a fourfold jump in EBITDA by FY30, supported by power demand normalising to a 6% CAGR over FY27-30.Live EventsFor the April–June quarter, with consolidated net profit jumping 42.4% year-on-year (YoY) to Rs 743 crore. The growth in Q1 was driven by a sharp scale-up in both renewable and thermal power generation.Revenue surged 78.6% YoY to Rs 5,143 crore, while EBITDA almost doubled to Rs 2,789 crore, reflecting a 96.8% increase. The operating margin expanded to 54.2% from 49.2% a year earlier.Read more: Adani Power shares soar 9% as Morgan Stanley initiates coverage with ‘Overweight’ rating, 30% upside seenDuring the quarter, the company commissioned 1,893 MW of capacity, taking its installed base to 12,768 MW — up 70% YoY. This includes 1,343 MW from the acquisition of Mytrah Energy (now O2 Power) and 550 MW through organic renewable additions.Total power generation rose 71% YoY to 13.5 billion units (BUs), with renewable generation contributing 5 BUs, up 54% YoY. Long-term PPA generation rose 73% to 11.8 BUs.At about 10:35 am, shares of the company were trading at Rs 545, higher by 1.5% from the last close on the NSE. JSW Energy shares are down 15% on a year-to-date basis.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)Add as a Reliable and Trusted News Source Add Now!
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