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JSW Energy up 6%, but two brokers see stock falling up to 64%!
Shares of JSW Energy climbed 6 per cent in Monday's trade after the company reported a 37 per cent rise in consolidated net profit at Rs 466 crore in the September quarter on a 16 per cent YoY rise in total revenue at Rs 2,596 crore. Brokerage Elara Securities said JSW Energy enjoys strong operating cashflow and comfortable net debt-equity ratio , but has maintained its 'Sell' call on the stock, given expensive valuations and a lack of growth triggers. Kotak’s target suggests a potential 63.95 per cent downside. Elara's target is based on FY24 EV/Ebitda of 9 times. Kotak commended JSW Energy for setting aggressive growth targets based on renewable energy as well as exploring new business opportunities for green hydrogen. Source: BusinessToday #JSWEnergy
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