JSW Energy shares rise 18% in two sessions, top gainers on BSE; what’s next?
JSW Energy shares opened marginally higher at Rs 243.35 on March 6 against the previous close of Rs 242.65 on BSE. The stock zoomed to an intraday high of Rs 274, gaining 12.92 per cent.
- Mar 8, 2023,
- Updated Mar 8, 2023 8:37 AM IST
Shares of JSW Energy Ltd were among the top gainers on BSE in the last trading session amid a positive broader market. JSW Energy stock opened marginally higher at Rs 243.35 on March 6 against the previous close of Rs 242.65 on BSE. The stock zoomed to an intraday high of Rs 274, gaining 12.92 per cent.
Later, the share closed 11.02% higher at Rs 269.40 on BSE.
However, the stock has lost 18.23 per cent in a year and fallen 6.28 per cent in 2023. In a month, JSW Energy stock has climbed 19.73 per cent. Total 7.18 lakh shares of the firm changed hands amounting to a turnover of Rs 18.70 crore on BSE. Market cap of the firm rose to Rs 44,307 crore in the previous session.
In terms of technicals, the relative strength index (RSI) of JSW Energy stands at 67.2, signaling it's trading neither in the overbought zone nor in oversold zone. JSW Energy stock has a one-year beta of 1.6, indicating very high volatility during the period. JSW Energy shares trade higher than the 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
The stock hit a 52 week high of Rs 369 on September 5, 2022 and a 52 week low of Rs 182 on June 20, 2022.
The stock has declined 27% from its 52-week high and risen 48% from its 52-week low.
On the outlook of the energy stock, Abhijeet from Tips2trade said, "JSW Energy has moved up sharply due to a positive divergence on the Daily charts and now faces strong resistance at Rs 278.8. Rs 243 will be strong support."
In February end, the management of the firm stated that it plans to increase its total generation capacity to 10 GW by FY2025 and to 20 GW by FY2030, against its current capacity of 4.8 GW. Most of the incremental investments would be in renewable sources of energy. Accordingly, it plans to have 80 per cent of its generation capacity from renewable sources by FY2030.
JSW Energy is also exploring a green hydrogen project, but would wait for regulatory clarity here. It highlighted that any incremental capex over the next few years would not require equity dilution from the current levels. The JSW Energy management also stated that JSW energy has a strong balance sheet with a net debt-to-Ebitda at 2.3 times. The company has set a target of becoming carbon neutral by 2050.
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Shares of JSW Energy Ltd were among the top gainers on BSE in the last trading session amid a positive broader market. JSW Energy stock opened marginally higher at Rs 243.35 on March 6 against the previous close of Rs 242.65 on BSE. The stock zoomed to an intraday high of Rs 274, gaining 12.92 per cent.
Later, the share closed 11.02% higher at Rs 269.40 on BSE.
However, the stock has lost 18.23 per cent in a year and fallen 6.28 per cent in 2023. In a month, JSW Energy stock has climbed 19.73 per cent. Total 7.18 lakh shares of the firm changed hands amounting to a turnover of Rs 18.70 crore on BSE. Market cap of the firm rose to Rs 44,307 crore in the previous session.
In terms of technicals, the relative strength index (RSI) of JSW Energy stands at 67.2, signaling it's trading neither in the overbought zone nor in oversold zone. JSW Energy stock has a one-year beta of 1.6, indicating very high volatility during the period. JSW Energy shares trade higher than the 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
The stock hit a 52 week high of Rs 369 on September 5, 2022 and a 52 week low of Rs 182 on June 20, 2022.
The stock has declined 27% from its 52-week high and risen 48% from its 52-week low.
On the outlook of the energy stock, Abhijeet from Tips2trade said, "JSW Energy has moved up sharply due to a positive divergence on the Daily charts and now faces strong resistance at Rs 278.8. Rs 243 will be strong support."
In February end, the management of the firm stated that it plans to increase its total generation capacity to 10 GW by FY2025 and to 20 GW by FY2030, against its current capacity of 4.8 GW. Most of the incremental investments would be in renewable sources of energy. Accordingly, it plans to have 80 per cent of its generation capacity from renewable sources by FY2030.
JSW Energy is also exploring a green hydrogen project, but would wait for regulatory clarity here. It highlighted that any incremental capex over the next few years would not require equity dilution from the current levels. The JSW Energy management also stated that JSW energy has a strong balance sheet with a net debt-to-Ebitda at 2.3 times. The company has set a target of becoming carbon neutral by 2050.
Also read: Axis Bank shares: Is India's third largest private lender headed for 45% upside?
Also read: Carborundum, Tata Motors & Gujarat Gas: What should be your strategy?