India's JSW Energy jumps 5% after 'value-accretive' O2 Power deal

Telefonica Deutschland Holding AG

30/12/2024 04:11

** Shares of JSW Energy  JSWE.NS  jump 5.3% to 659 rupees
    ** Energy producer acquires units of renewable power
producer O2 Power in $1.47 bln deal
    ** ICICI Securities double-upgrades stock to "buy" from
"hold", saying the deal is "value-accretive" and complements
JSWE's renewable energy portfolio (raises PT to 720 rupees)
    ** Motilal Oswal maintains "buy", PT of 810 rupees and
highlights O2 Power's "high-quality assets"
    ** Motilal estimates deal will unlock 57 rupees/shr in
value, once completed, while ICICI estimates 75 rupees/shr
    ** Analysts tracking JSWE rate it "buy" on avg - LSEG data
    ** Stock up 61% YTD, on track for best year since 2020

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))