Jain’s comments came on the day when the stock of JSW Energy tanked six percent following its Q3 result.

Liquidity continues to be strong with cash balances at Rs 3,029 crore as of December 31, 2022. The company has one of the most substantial balance sheets among its peers with a large headroom to pursue value accretive growth opportunities, the company informed through an official filing.

The brokerage is of the view that valuation of the stock looks expensive at Rs 262 (RoE - ~8.9%, FY25 P/E – 23.6x, P/BV - 2.0x); hence it maintains a SELL with a SoTP of Rs 186.

The promoters - NTPC, NHPC, Power Finance Corp and Power Grid Corp of India - hold a combined stake of around 16% in PTC India. Damodar Valley Corp, which owns a 3.3% ownership, has also decided to divest its shareholding.

While higher realisation would offset the fall in generation, profitability is expected to be impacted by higher coal prices.

“NTPCs dividend payout has been consistently higher and it is offering a very asymmetric payoff which means that the downside is fairly limited. If the delivery of earnings continues, then there is a massive rerating ahead of the stock. NTPC is the top name that emerges as per our style of recommendation.”

"In the power financial space, there is REC, PFC and they deserve a look because a lot of capex is happening in this category and there also the books have been cleaned. They are in a much better position to lend. REC, PFC can be looked at if we are playing the power story."

The private lender, Yes Bank, has concluded assignment of the Rs 48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company.

JSW Energy, incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 48786.64 Crore) operating in Power sector.

Timelines for plans to take JSW Infrastructure and JSW Cement public are not yet decided.

Inox Green Energy Services will make Dalal street debut on Wednesday after running its initial public offering between November 11-15 as the company raised Rs 740 crore by selling its shares in the range of Rs 61-65 apeice.

The net profit of JSW Energy stood at Rs 466 crore against Rs 399 crore in the corresponding period of the previous year. During the quarter, total revenue increased by 16% year-on-year (YoY) to Rs 2,596 crore from Rs 2,237 crore in the year-ago period.

Shares of IIFL Wealth (Rs 17 per share), KPI Green (Re 0.25 per share) and Focus Business (Re 0.38 per share) shall trade ex-dividend today.

Both BSE Sensex and Nifty50- jumped more than 2 per cent each. Midcap and smallcap indices also ended in red, whereas fear gauge index India VIX slipped below 18-levels. On the sectoral front, buoyancy on the banking front combined with a buying in select IT, energy and FMCG majors kept the tone positive for most of the week. However, metals and media counters were disappointed. Seven key factors that will guide the markets in the truncated holiday bound festive week.

Both BSE Sensex and Nifty50- jumped more than 2 per cent each. Midcap and smallcap indices also ended in red, whereas fear gauge index India VIX slipped below 18-levels. On the sectoral front, buoyancy on the banking front combined with a buying in select IT, energy and FMCG majors kept the tone positive for most of the week. However, metals and media counters were disappointed. Seven key factors that will guide the markets in the truncated holiday bound festive week.

For the quarter, growth in hydropower generation stood at 14 percent while that in thermal and renewable energy stood at 2.5 percent and 8.5 percent, respectively, on an annualised basis.

For the quarter, growth in hydropower generation stood at 14 percent while that in thermal and renewable energy stood at 2.5 percent and 8.5 percent, respectively, on an annualised basis.

For the quarter, growth in hydropower generation stood at 14 percent while that in thermal and renewable energy stood at 2.5 percent and 8.5 percent, respectively, on an annualised basis.

With several stocks in the midcap and smallcap space having seen multi-fold rise in prices, a section of the market believes that one should take calculative bets in these stocks and book profits at current levels.

A close below Rs 1,100 could take the stock towards Rs 1,050-1,035. On the flip side, as long as it is trading above Rs 1,100, the uptrend texture is intact. Above the same, it could move up to Rs 1,200-1,225 levels.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said “We are excited to actively participate in the strong prospects of Hydro PSPs in sustainably solving the problem of intermittency of renewable power. In continuation to our target to achieve 10GW of Hydro PSP capacity, we are pleased to have signed a second MoU with the Government of Maharashtra.”

The Competition Commission (CCI) gave its conditional approval to the mega-merger deal between Sony and Zee that will create one of the largest media groups in the country.

JSW Energy Ltd., incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 49271.63 Crore) operating in Power sector.

Information technology stocks across the board have rebounded after the losses in the recent sessions. Stocks such as Infosys, HCL Technologies, Mphasis, and L&T Technology Services have risen 3-5% last week.

The brokerage believes the majority of the coal-based capacity addition over the next decade will be done by PSUs led by NTPC. Coal India, being the largest coal supplier, will continue to be the major beneficiary on the back of coal demand growth.

This hope, along with easing commodity prices and healthy June quarter results, has led to the return of FPIs to Indian bourses, easing investor concerns.

Tata Teleservices (Maharashtra), which zoomed a solid 2,496 per cent in 2021, is down 40 per cent this year. Recently, the stock was in the news when the telecom operator announced that it will be issuing shares to the government of India in lieu of interest on the deferred spectrum and AGR dues. The company has been reporting losses for the last 13 consecutive quarters and in the last 40 quarters, it has reported profit only once.

BEML rose 44.87 per cent for the month to Rs 1,846.50 from Rs 1,274.55 level in June end. Analysts have been positive on the stock as the demerger process has picked up pace and strategic disinvestment is on the cards. Analysts noted that the companys order book of Rs 9,100 crore provides revenue visibility for the next 2-3 years. JSW Energy soared 43.11 per cent for the month to Rs 341.05 against Rs 238.30 level last month.

Seven other companies - Acme Barmer Solar, Hartree Partners Singapore, Eden Renewable Vavin Pvt Ltd, Sterlite Power Transmission, NTPC Renewable Energy, Renew Solar Power and Azure Power-were also in fray

Eight companies including Acme Solar, Hartree Partners Singapore, Eden Renewable Vavin Pvt led, Sterlite Power Transmission, NTPC Renewable Energy, Renew Power and Azure Power were in race for the contracts.

If Torrent bags the deal, it would be the largest power sector buyout for the Ahmedabad-based utilities group, which had also bid for Anil Ambani's Mumbai power distribution business but lost out to Adani in 2020.

JSW Energy unit to buy $1.3 billion renewable assets from Mytrah Energy. The energy unit will buy a portfolio of solar and wind power assets with a capacity of 1,753 megawatts, boosting parent JSW Energy's operational generation capacity by over 35% to 6,537 MW, according to an official statement.

Ind-Barath was admitted for bankruptcy proceedings on August 29, 2018, following a plea filed by Bank of Baroda. On October 9, 2019, the Committee of Creditors (CoC) approved JSW Energys revival plan, with 82.70% votes in its favour.