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Wednesday, June 22, 2016

JSW Energy Ltd: Buy
CMP: Rs.81.50
JSW Energy Ltd’s net profit for the March, 2016 quarter remained almost flat at Rs.305 crore against Rs 325 crore during the corresponding quarter of the previous year. The results were a little timid due to higher interest and depreciation expense incurred after the acquisition of hydro assets in Himachal Pradesh.

The total income from operations rose by 22% to Rs.2,681 crore, against Rs.2,190 crore, driven largely by increased generation from the thermal plants and was supplemented by additional generation from the hydro plants. 

JSW energy is an India based private power generation company. The company’s business segment includes power generation, power trading, power transmission, mining and equipment manufacturing. 

Recently there were media reports that, the company is shortlisted to supply electricity to a Karnataka utility through a power purchase agreement (PPA). However, in a filing to BSE, the firm clarified that the bid requires several approvals for it to be finally clinched.

The stock was first recommended in this blog at around Rs.67-68. You can still take fresh positions in the counter, for short term targets of Rs.87-91. SL: Rs.75.
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