India's JSW Infra closes higher on 23.59 bln-rupee capex approval

JSW Infrastructure

09/09/2024 11:19

** Shares of India's JSW Infrastructure  JSWN.NS  ended ~2%
higher at 313 rupees, snapping eight-session losing streak
    ** Second-largest pvt port operator approves 23.59 bln
rupees ($281 mln) capex to expand capacity at its two ports in
Maharashtra
    ** Plans to boost capacity to 400 MTPA by FY30 from 170 MTPA
currently
        ** Larger rival Adani Ports  APSE.NS , which is
targetting 1 bln tonne capacity by 2030, closed 0.5% lower
  
    ** JSWN, APSE both rated "buy" on avg - LSEG data
    ** JSWN has gained 50% YTD, outpacing APSE's 40% rise

($1 = 83.9525 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))