JSW Energy shares rise 4% amid likely inclusion into AMFI’s large cap category

Shares of JSW Energy rose nearly 4% in early deals on Tuesday after brokerage Nuvama said in its latest note said AMFI could include the energy major to the large cap category in the forthcoming June rejig. 

JSW Energy stock gained 3.79% to Rs 626 against the previous close of Rs 603.10 on BSE. The multibagger stock has rallied 140 per cent in a year and gained 470 per cent in three years. Total 0.87 lakh shares of the firm changed hands amounting to a turnover of Rs 5.40 crore on BSE. Market cap of the firm rose to Rs 1.09 lakh crore.

The stock fell to a 52 week low of Rs 240 on May 24, 2023 and touched a 52 week high of Rs 651.55 on April 22, 2024. In the last two years, the stock has delivered 97.10% returns. In comparison, Sensex has risen 31.39% in two years.

In terms of technicals, the relative strength index (RSI) of JSW Energy stands at 59.1, signaling it's trading in the neither in the overbought nor in the oversold zone. JSW Energy stock has a one-year beta of 0.4, indicating very low volatility during the period. JSW Energy shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

According to the Nuvama report, AMFI is likely to classify stocks such as JSW Energy, BHEL, Hero MotoCorp, Bosch, NHPC and Samvardhana Motherson International as largecaps. Stocks such as Berger Paints, Marico, SBI Card and Polycab India are expected to be shifted to the midcap category.