Religare Research's research report on JSW EnergyJSW reported a below-expected Q1FY17 (revenue/PAT: +17%/+19% YoY to Rs 24.5bn/Rs 3.7bn) due to benign merchant realisations and muted customer scheduling amid low demand. Performance at Vijaynagar was hit by pre-scheduled maintenance activity to ensure available capacity for anticipated PPAs. While we see Bina acquisition as a positive and concur with JSW’s inorganic growth strategy, benign merchant power prices and muted demand would weigh on the stock. Maintain HOLD; Mar’17 TP Rs 80.For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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