Today was the first time in seven months that shares of JSW Energy went over Rs 300. The energy stock last went over Rs 300 when it opened on BSE on December 9, 2022, at Rs 301.55.
Today, shares of JSW Energy Ltd hit their highest level in seven months, even though the market as a whole is correcting. The stock finished on December 6 of last year at Rs 310.75. Today, it went up more than 4.5% to a high of Rs 309.80 on BSE. For the first time in seven months, shares of JSW Energy went over Rs 300. The energy stock last went over Rs 300 when it opened on BSE on December 9, 2022, at Rs 301.55.
The stock of the multibagger power company reached its 52-week high of Rs 369 on September 5, 2022, and its 52-week low of Rs 198.05 on July 6, 2022. The stock has given back 531% in the last three years. Sensex, on the other hand, has gone up by 81.78% in three years.
At 11:37 a.m., the JSW Energy stock on BSE was worth Rs 306.45, up 4.23 percent from its previous price of Rs 294. The energy stock has gone up 53.08% in a year, and it will go up another 5.40% in 2023. In the past month, JSW Energy stock has gone up 24.08%. On BSE, 2.40 million shares of the company were bought and sold, which brought in Rs 7.30 crore. The company’s market value went up to Rs 50,413 crore.
In terms of technicals, JSW Energy’s relative strength index (RSI) is at 69.2, which means that it is neither overbought nor oversold. The one-year beta for JSW Energy stock is 1.6, which means that the stock was very volatile during that time. The 5 day, 20 day, 50 day, 100 day, and 200 day moving averages are all above the price of JSW Energy shares.
Abhijeet from Tips2trades said, “JSW Energy stock is overbought and strong on the daily charts, and a close above Rs 302 could lead to Rs 321 in the near term. Investors should take gains at current levels or keep a strict stop loss of support of Rs 293 to hold buy positions.
“Using a 10% discount to calculate the PER multiple (19x) on FY26e (EPS), the goal price per share comes to Rs 327. Based on DCF, the value of each share is Rs 529. “For the purpose of valuing the company, we took the average of the PER and DCF per share values to come up with a target price per share of Rs 430,” the brokerage said.
In the fourth quarter of the last fiscal year, net profit dropped 68% because margins fell and running costs went up. The earnings for Q4 was Rs 282.03 crore, compared to Rs 877 crore for the same quarter last year.
For FY23, net profit fell 15% to Rs 1480 crore. Revenue from business went up by 9% to Rs 2,669.9 crore because sales went up. FY23 income rose 26% to Rs 10,331 crore.
The company’s board of directors suggested a dividend of Rs. 2 per equity share and approved Sajjan Jindal’s re-appointment and pay as chairman and managing director for another five years starting on January 1, 2024, if the members of the company agree.
