The stock gave multibagger returns of 155 per cent in just 1 year whereas BSE Sensex Index is up by 23.3 per cent.
JSW Neo Energy Limited (or “JSW Neo”), a wholly-owned subsidiary of JSW Energy Limited, has received a Letter of Award (LoA) for ISTS-connected solar capacity of 700 MW from SJVN Limited, against tariff based competitive bid invited for setting up of 1,500 MW ISTS-connected solar power projects.
Following the award of 700 MW capacity from SJVN Ltd, the Company’s total locked-in capacity increases to 11.0 GW comprising 1.4 GW of solar capacity. The project is required to supply power of full contracted capacity within 24 months from the effective date of PPA.
JSW Energy has a total locked-in generation capacity of 11 GW comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal and hydro and LoAs for 1.2 GW capacity from SECI (Tranche – XVI) and SJVN. In addition, the company has 3.4 GWh of locked-in energy storage capacity using a battery energy storage system and hydro-pumped storage project. The Company expects to have 9.8 GW of operational generation capacity by CY2024, up from the current operational capacity of 7.2 GW. The Company aims to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. JSW Energy has set an ambitious target for a 50 per cent reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.
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JSW Energy Ltd, a prominent player in India’s private power sector, is a member of the expansive USD 23 billion JSW Group. The group holds positions in various industries, including steel, energy, infrastructure, cement, and sports. JSW Energy Ltd. possesses a strong presence throughout the power sector, with assets spanning power generation and transmission. The company’s dedication to robust operations, sound corporate governance, and prudent capital allocation strategies has fostered sustainable growth and value creation for its stakeholders.
JSW Energy initiated operations in 2000 with its initial 2×130 MW thermal power plants in Vijayanagar, Karnataka, and has grown its generation capacity to an impressive 7,189 MW. Their diversified portfolio includes thermal (3,508 MW), wind (1,615 MW), hydro (1,391 MW), and solar (675 MW) power sources, ensuring a wide range of geographic locations, fuel types, and power arrangements. JSW Energy is actively constructing power projects with a total potential of 2.6 GW, aiming to reach a remarkable 20 GW power generation capacity by 2030.
The company has a market cap of over Rs 85,000 crore and has been maintaining a healthy dividend payout of 27.5 per cent. In December 2023, FIIs increased their stake to 8.50 per cent from 8.38 per cent in September 2023 while Life Insurance Corporation of India (LIC) owns an 8.22 per cent stake as of December 2023.
Today, the shares of JSW Energy Ltd plunged 0.39 per cent to Rs 521.95 per share with an intraday high of Rs 532.70 and an intraday low of Rs 504.40. The shares of the company saw a spurt in volume by more than 1.75 times on BSE. The stock gave multibagger returns of 155 per cent in just 1 year whereas BSE Sensex Index is up by 23.3 per cent. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
