India's JSW Infra rises as brokerages cheer growth prospects

JSW Infrastructure

29/01/2025 09:56

** Indian private port operator JSW Infrastructure's
 JSWN.NS  shares rise ~4% to 271 rupees
    ** Co signals rebound in iron ore volumes - weakness in
which had capped its Q3 cargo volume growth and led to a profit
miss
    ** Considering stable growth levers at its existing ports
and terminals, we expect co to strengthen market stand - Motilal
Oswal 
    ** Capacity boost drives at JSW Steel  JSTL.NS  - co's
dominant customer which contributed 56% of its total FY24
volumes - gives visibility and "comfort on growth" - Jefferies
    ** Therefore, JSWN will "have ability to expand capacity
without having to hunt cargo from scratch" - Jefferies 
    ** Motilal retains TP of 350 rupees while Jefferies cuts TP
to 330 rupees (from 360 rupees); both brokerages maintain
individual "buy" calls 
    ** Average rating of 11 analysts covering the stock is
"buy", mean TP is 350.91 rupees - LSEG
    ** So far in Jan, it has fallen ~15% 

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