Two of the JSW Group companies, JSW Infrastructure and JSW Energy, are having a green day at the equity markets. This comes at a time when the Indian markets are trading in red with deep cuts. Both the company shares surged in the intraday trade on Friday.
Both entities surged by over 7 per cent each.
This came to pass after companies received positive ratings from the brokerages.
JSW Energy Ltd
When it comes to JSW energy, the company shares rose monumentally after Morgan Stanley underscored and reaffirmed the company stock as 'Overweight'.
An Overweight stock is a stock that is expected to outperform expectations.
The rating agency expects a large EBITDA Compound Annual Growth Rate (CAGR) of 24 per cent for JSW Energy over the FY24-28E period.
JSW Energy shares surged by a significant margin, jumping by 6.21 per cent or Rs 29.10. This took the overall company shares to Rs 497.65 per piece.
JSW Infrastructure Ltd
When it comes to JSW Infrastructure, the company shares zoomed after a Motilal Oswal issued a 'buy' rating for the infrastructure company.
Motilal Oswal expects cargo traffic to grow. The growth is estimated to happen at a steady annual rate of 3 per cent to 6 per cent.
The brokerage also set a price target for the JSW Infrastructure shares, pegging a price target of Rs 330 per share.
This has impacted the company shares significantly, with the surge exceeding over 9 per cent. This surge tapered a little, while continuing to maintain a healthy lead.
As the day was about to come to a close, the surge in stock price stood at 8.39 per cent or Rs 20.00. This took the overall value of the company shares to Rs 258.30 per piece.
