JSW Energy shares surge 5%, leads Nifty 200 gainers

Shares of JSW Energy Ltd soared 5 per cent in Monday's trade, reaching an intraday high of Rs 746.35, making it the top gainer in the Nifty 200 index. According to media reports, brokerage firm Jefferies highlighted that thermal energy will continue to play a key role in India's energy landscape, while opportunities in renewable energy and storage are expected to grow significantly.

The report says Jefferies met the JSW group management and in its report emphasized that the energy sector presents the most exciting growth prospects for the group, as the company actively expands its capacity across energy, steel, ports, and paints. The brokerage also noted that JSW Group has plans to introduce new products every three to six months, with its joint venture MG India launching its first vehicle on September 11.

According to Vipin Kumar, Senior Technical and Derivatives Analyst at Globe Capital Market, JSW Energy's shares are on the brink of a breakout, approaching the ₹750 mark. If the stock crosses and sustains above this level, it could rally towards ₹800 and beyond in the short term.

In addition, Jefferies reported that JSW Infrastructure plans to significantly boost its port capacity by 2.4 times by FY30. Following this news, JSW Infrastructure's shares also saw a notable rise, placing it among the top performers in the Nifty 200 index.

Corporate Guarantee Issued

On Friday, JSW Energy announced it had issued a corporate guarantee worth ₹450 crore on behalf of its subsidiary, JSW Energy (Utkal). The guarantee is in favour of lenders, supporting a working capital loan secured by the subsidiary.

Today, trading activity surged, with 4.1 million shares of JSW Energy changing hands on the NSE, a significant increase compared to the 765,000 shares traded during the same period on Friday.