JSW Infrastructure Limited (JSWIL) saw its shares jump over 2% following DAM Capital’s initiation of coverage with a “Buy” rating and a target price of ₹400.
JSW Infrastructure shares opened at ₹315.00, reaching a high of ₹319.00 and a low of ₹311.15 during trading. Over the past year, the stock has hit a 52-week high of ₹360.95 and a low of ₹202.00.
The brokerage highlights the company’s strong position as India’s second-largest port operator, with a cargo handling capacity of 170 million tonnes per annum (mtpa) and a return on invested capital (ROIC) of 19%. Notably, JSWIL has maintained a net debt-free balance sheet as of September 2024, a rarity in India’s infrastructure sector.
As per the broker, JSWIL’s growth is supported by key strategies, including cargo visibility from its group companies like JSW Steel, securing government-driven PPP bids for major ports, and pursuing value-accretive acquisitions. The recent acquisition of Navkar Corporation is seen as a transformative move, enhancing diversification and value creation.
As of 9:35 am, JSW Infrastructure shares were trading 2.72% higher at Rs 317.10 on the NSE.
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