India's JSW Infra jumps after Jefferies starts coverage with 'buy'

JSW Infrastructure

27/08/2024 08:35

** Shares of ports operator JSW Infrastructure  JSWN.NS 
rise 4.3%, biggest intraday percentage gain in eight weeks, to
322.45 rupees 
    ** Jefferies initiates coverage of stock with "buy" rating,
target price of 375 rupees - 21.3% implied upside over last
close 
    ** Brokerage expects double-digit pct growth in JSWN's cargo
volume in FY24-30
    ** Estimates port cargo to rise at 6% CAGR in 2024-2030 for
the sector, higher than the 5% in the last 10 years
    ** JSWN's capacity expansion, acquisition of Navkar
Logistics to boost earnings in FY24-FY30, says Jefferies
    ** Expects JSWN's market share to rise to 11% by FY30 from
7% currently
    ** JSWN has risen 171% over its issue price of 119 rupees,
since its market debut on Oct. 3, 2023; Nifty 50  .NSEI  has
risen 27.5% over the same period

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))