Shares of JSW Energy Ltd. rose the most in nearly two weeks after the Sajjan Jindal-led power firm beat analysts' estimates in the first quarter. The stock, however, pared most of the gains at close.
Here's what brokerages have to say about JSW Energy's Q1 results.
Jefferies
Reiterates 'buy', raises target price to Rs 315 from Rs 310, an implied upside of 33.73%.
Renewable energy capacity ramp-up is on track.
Expects 13% of coal capacity (merchant-based) to benefit from tight power demand-supply environment in FY23E-26E.
Management will maintain return discipline ahead of tariff-based competitive bidding.
Raises FY23E-25E EPS by 1-5%.
Kotak Institutional Equities
Reiterates 'sell' with a target price of Rs 115, an implied return of -52.13%.
Higher quantum of short-term sales aided Ebitda.
Current market price factors all benefits of targeted capacity additions and earnings growth till FY2030E.
The company's renewable portfolio is on track with PPAs secured for all assets.
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