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What is the story about?
Shares of JSW Energy Ltd. will be in focus on Friday following two key developments.
The company has signed an agreement with Statkraft IH Holding AS to acquire 100% equity in Tidong Power Generation Pvt. Ltd. (TPGPL), which is developing a 150 MW hydro power project. Tidong Power's FY25 revenue stood at ₹39 crore.
The acquisition has been valued at an enterprise value of ₹1,728 crore, and will expand JSW Energy's total portfolio to 30.5 GW, of which 13.1 GW is operational. Its hydro portfolio now stands at 1.8 GW.
In a separate move, GE Power has announced the demerger of its power boiler manufacturing and supply business into JSW Energy. As part of the deal, JSW Energy will issue 10 shares for every 139 shares held in GE Power.
The demerged entity posted revenues of ₹529.5 crore in FY25, accounting for about 5.1% of JSW Energy's turnover. The transaction will allow JSW Energy to enter the boiler pressure parts manufacturing segment.
Brokerages remain upbeat on the stock despite its recent underperformance.
Morgan Stanley has an 'Overweight' rating with a price target of ₹659, while Jefferies has a 'Buy' recommendation with a price target of ₹700.
Jefferies said that JSW Energy is targeting capacity additions of 4.4-4.9 GW in FY26, which is above its estimate of 3.1 GW. The brokerage expects capacity expansion to drive a fourfold jump in EBITDA by FY30, supported by power demand normalising to a 6% CAGR over FY27-30.
On Thursday, JSW Energy shares ended 0.56% higher at ₹538. However, the stock has fallen 17% so far in 2025.
The company has signed an agreement with Statkraft IH Holding AS to acquire 100% equity in Tidong Power Generation Pvt. Ltd. (TPGPL), which is developing a 150 MW hydro power project. Tidong Power's FY25 revenue stood at ₹39 crore.
The acquisition has been valued at an enterprise value of ₹1,728 crore, and will expand JSW Energy's total portfolio to 30.5 GW, of which 13.1 GW is operational. Its hydro portfolio now stands at 1.8 GW.
In a separate move, GE Power has announced the demerger of its power boiler manufacturing and supply business into JSW Energy. As part of the deal, JSW Energy will issue 10 shares for every 139 shares held in GE Power.
The demerged entity posted revenues of ₹529.5 crore in FY25, accounting for about 5.1% of JSW Energy's turnover. The transaction will allow JSW Energy to enter the boiler pressure parts manufacturing segment.
Brokerages remain upbeat on the stock despite its recent underperformance.
Morgan Stanley has an 'Overweight' rating with a price target of ₹659, while Jefferies has a 'Buy' recommendation with a price target of ₹700.
Jefferies said that JSW Energy is targeting capacity additions of 4.4-4.9 GW in FY26, which is above its estimate of 3.1 GW. The brokerage expects capacity expansion to drive a fourfold jump in EBITDA by FY30, supported by power demand normalising to a 6% CAGR over FY27-30.
On Thursday, JSW Energy shares ended 0.56% higher at ₹538. However, the stock has fallen 17% so far in 2025.
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