The company's promoter has released pledge on 2.7 crore shares from October 3-4.
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.
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 BSEThe Great Diwali Discount!
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