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JSWENERGY

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+4.20 (+1.77%)

NSE Volume

24.7L+

Broker Reports

Call Price: ₹312
20 JAN 22
Target: ₹118
Change: ₹309 (-2.52%)

SELL

Call Price: ₹63.1
18 FEB 20
Target: ₹78
Change: ₹65.75 (3.46%)

BUY

JSW Energy (JSWE) has signed a share purchase agreement to acquire GMR Kamalanga (1,050MW). The deal is valued at a maximum amount of INR53b (implying an EV of INR51m/MW). We see the transaction as value accretive for JSWE, given the strategic location of the plant, room for merchant volumes, and the company’s ability to reduce interest and O&M costs post acquisition. Moreover, the move lends visibility to JSWE’s capital deployment. We raise our FY21/22 EPS estimates by 15/8% to account for the takeover of Kamalanga from FY21. Upgrade to Buy with a TP of INR78/sh (23% upside).
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Call Price: ₹69.61
27 JUN 19
Target: ₹73
Change: ₹68.45 (-1.79%)

HOLD

A weak generation profile for the Vijaynagar plant for the third consecutive year, coupled with rising cost (and lower margins) has implied that JSW Energy has yielded single-digit returns yet again in FY19. Shelving of the investment plans for electric vehicle planning helped allay investor concerns, even as drop in prices of imported coal could provide incremental tail-winds. We revise our rating to Hold from Reduce and value at a P/E of 10x on FY21E EPS with a target price of Rs.73.
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Call Price: ₹75.89
2 APR 19
Target: ₹77
Change: ₹68.45 (-1.79%)

NEUTRAL

We have cut the capex we were building for EV. JSWE has been deleveraging over the years given its strong operating cash flows and lack of growth opportunities (net debt down from INR162b in FY16 to INR130b in FY18). We believe until acquisition opportunities emerge, it will continue to deleverage, which will lead to savings in interest cost. We have raised our PAT estimate by 2%/37% to INR7.6b/INR9.2b for FY20E/21E on lower interest cost. We value JSWE on SOTP basis; the long-term PPA capacities on DCF and merchant capacities at INR40m/MW. The target price is raised to INR77/share (Exhibit 7), on lower net debt. Maintain Neutral. JSWE has a strong balance sheet to benefit from consolidation in the generation sector, but value creation will be subject to when and at what value it will be able to conclude deals.
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Call Price: ₹67.88
31 JAN 19
Target: ₹73
Change: ₹68.45 (-1.79%)

NEUTRAL

Call Price: ₹67.7
6 NOV 18
Target: ₹72
Change: ₹68.45 (-1.79%)

NEUTRAL

Call Price: ₹65.34
25 SEP 18
Target: ₹72
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹67.13
28 JUL 18
Target: ₹75
Change: ₹68.45 (-1.79%)

NEUTRAL

Call Price: ₹67.13
27 JUL 18
Target: ₹72
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹82.8
7 FEB 18
Target: ₹54
Change: ₹68.45 (-1.79%)

SELL

Call Price: ₹83.73
20 DEC 17
Target: ₹100
Change: ₹68.45 (-1.79%)

BUY

Call Price: ₹82.79
3 NOV 17
Target: ₹72
Change: ₹68.45 (-1.79%)

REDUCE

Call Price: ₹85.55
1 NOV 17
Target: ₹127.5
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹62
2 MAY 17
Target: ₹66
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹62
2 MAY 17
Target: ₹88
Change: ₹68.45 (-1.79%)

BUY

Call Price: ₹64
5 APR 17
Target: ₹73
Change: ₹68.45 (-1.79%)

BUY

Call Price: ₹59
23 JAN 17
Target: ₹68
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹65
7 JAN 17
Target: ₹85
Change: ₹68.45 (-1.79%)

BUY

Call Price: ₹57.6
2 DEC 16
Target: ₹84
Change: ₹68.45 (-1.79%)

BUY

Call Price: ₹67
26 OCT 16
Target: ₹69
Change: ₹68.45 (-1.79%)

HOLD

Call Price: ₹66.7
26 OCT 16
Target: ₹76
Change: ₹68.45 (-1.79%)

HOLD

About
JSW Energy Ltd. NSE: JSWENERGY | BSE: 533148 | ISIN: INE121E01018 | Sector: Power
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