JSW Infra shares upgraded by HSBC to 'hold' but brokerage prefers buying its larger peer

Shares of JSW Infrastructure Ltd. are in focus on Tuesday, January 13, after brokerage firm HSBC upgraded its rating and target price on the stock.

HSBC has upgraded its rating to "hold" and increased its price target to ₹280 per share for JSW Infra. This implies an upside potential of 5.6% from Monday's closing price.

The brokerage said JSW Infra

is on track to double its earnings before interest, tax, depreciation and amortisation (EBITDA) for the financial year 2028 compared to FY25. It is also on track to meet its FY30 port capacity target of 400 MTPA, it added.

HSBC said the company's execution record offers comfort.

However, weakness in the iron ore and coal trade has prompted HSBC to cut JSW Infra's profit estimates for financial year 2026-2027. On the flip side, estimates for financial year 2028 have been raised to reflect the new businesses of the company.

Despite the positive commentary, HSBC prefers Adani Ports over JSW Infra as its preferred pick within this space.

Of the 17 analysts who have coverage on the stock, 13 have a "buy" rating and two each have "hold" and "sell" ratings.

Shares of JSW Infra ended the previous session 1.34% lower. The stock has declined 16.3% in the last six months.

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