India's JSW Energy gains; MS initiates with 'overweight'

JSW ENERGY

21/02/2025 05:40

** JSW Energy  JSWE.NS  climbs 6.2% to 497.5 rupees, eyes
fourth straight session of gains
    ** Stock top gainer on Nifty Next 50 Index  .NN50 , which is
down 0.87%
    ** Morgan Stanley initiates coverage with "overweight"
rating on stock; sets PT of 545 rupees
    ** Adds, co saw strong market share gains in recent bids at
reasonable tariffs
    ** JSWE has well-integrated business model and is one of the
top Indian utilities to play the future of energy, the brokerage
said
    ** Green renewable energy business, investment in storage
assets and expansion of thermal business inorganically aid
growth
    ** More than 8.5 mln shares change hands, 1.6x its 30-day
avg
    ** 13 analysts covering the stock on avg have a "buy"
rating; median PT is 630 rupees - LSEG data
    ** Stock gained ~14% this week, eyes best weekly gain since
Jan. 2024
     

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))