Shares of JSW Infrastructure Ltd. fell as low as 3.31% in trade on Wednesday after HSBC global downgraded the stock from a 'hold' rating, to a 'reduce' rating, with the target price of Rs 310, implying a nearly 14% downside to its last closing price.
The brokerage outlined that even as the stock has rallied, capex-led growth can dilute Return On Invested Capital (ROIC) and increase execution risk. Additionally, resilient India cargoes may have offset Fujairah disruption but slower project ramp-up drives 4-7% cuts to its ebitda estimates over fiscal 2027 to 2029.
The slid to a low of Rs 351, but later pared most of their losses to trade little changed at Rs 362.95 apiece on the NSE, as compared to a 0.7% decline in the benchmark Nifty index.
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