JSW Energy surges on getting long-term credit rating upgraded by India Ratings
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JSW Energy is currently trading at Rs. 307.00, up by 4.20 points or 1.39% from its previous closing of Rs. 302.80 on the BSE.
The scrip opened at Rs. 304.95 and has touched a high and low of Rs. 308.45 and Rs. 300.05 respectively. So far 10042 shares were traded on the counter.
The BSE group 'T ' stock of face value Rs. 10 has touched a 52 week high of Rs. 408.70 on 14-Oct-2021 and a 52 week low of Rs. 70.10 on 09-Feb-2021.
Last one week high and low of the scrip stood at Rs. 312.50 and Rs. 293.00 respectively. The current market cap of the company is Rs. 50142.97 crore.
The promoters holding in the company stood at 74.66%, while Institutions and Non-Institutions held 14.70% and 10.64% respectively.
Credit rating agency -- India Ratings has upgraded its long-term credit rating of JSW Energy to ‘AA’ (stable) from ‘AA-’ (stable). An upgrade of a company within the AA family of ratings is a clear recognition of the robust business and risk management practices of the company and its strong financial profile.
The upgrade concurs with the commencement of a capex (capital expenditure) cycle entailing an annual outlay of Rs 8,000-Rs 10,000 crore to reach a 20-gigawatt (GW) operational portfolio comprising 85 per cent renewable energy capacity.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
