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Last Updated : Oct 09, 2019 03:19 PM IST | Source: Moneycontrol.com

JSW Energy rises 5% after Citi maintains buy; target Rs 85

The company's promoter has released pledge on 2.7 crore shares from October 3-4.

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JSW Energy rose 5.5 percent intraday on October 9 after research house Citi maintained a buy rating on the stock with a target price of Rs 85 per share.

The acquisition valuation for GMR Kamalanga, not yet disclosed, may be reasonable given Kamalanga energy’s long-term debt rating, Citi said.

The company continues to generate healthy cash flows in its core business and continues its efforts to acquire stressed projects at reasonable valuations.

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The valuation at 0.8x P/BV remains cheap, Citi said

The company's promoter released pledge on 2.7 crore shares from October 3-4.

At 1507 hours,JSW Energy was quoting at Rs 61.90, up Rs 1.80, or 3 percent, on the BSE

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First Published on Oct 9, 2019 03:19 pm
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