Morgan Stanley has reiterated its overweight rating on JSW Energy with a target price of ₹659 per share, implying a potential upside of about 22.5% from the current market price of ₹538.00.
The brokerage highlighted that JSW Energy has signed a definitive agreement to acquire the 150 MW Tidong hydro plant from Statkraft at an enterprise value of ₹17.3 billion (subject to closing adjustments), to be paid fully in cash. The deal is subject to approvals from the Himachal Pradesh state government and lenders, and is expected to be completed by January 15, 2026.
With this acquisition, JSW Energy’s total portfolio has increased to 30.5 GW, of which 13.1 GW is operational. Its hydro portfolio now stands at 1.8 GW, making it the largest private player in India’s hydro segment.
Morgan Stanley noted that the company has already surpassed its medium-term generation capacity guidance, reinforcing its long-term growth trajectory.
Disclaimer: The views and investment recommendations expressed are those of Morgan Stanley. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
