JSW Infra Shares Can Rally 23% Says Motilal Oswal Maintaining 'Buy' — Check Target Price 

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Motilal Oswal Report

JSW Infrastructure Ltd. reiterated its FY26 cargo volume growth guidance of 10%, expecting stronger traction in H2 FY26. Long-term vision includes expanding port capacity to 400 million tonnes per annum by FY30 and building a logistics platform delivering Rs 80 billion in revenue and a 25% Ebitda margin.

Backed by aggressive yet disciplined capex, customer diversification, and multimodal infrastructure expansion, JSW Infra remains well-positioned for structural growth across India’s maritime and logistics value chain.

We expect JSW Infra to strengthen its market dominance, leading to a 13% volume CAGR over FY25-27. This, along with a sharp rise in logistics revenues, is expected to drive a 22% CAGR in revenue and a 23% CAGR in Ebitda over the same period.

We reiterate our Buy rating on the stock with a target price of Rs 380 (based on 23x FY27 EV/Ebitda).

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