JSW Energy gains after clarification

The announcement was made after trading hours on Monday, 24 December 2012.

Meanwhile, the BSE Sensex was up 49.65 points, or 0.26%, to 19,304.74.

On BSE, 32,000 shares were traded in the counter as against an average daily volume of 3.84 lakh shares in the past one quarter.

The stock hit a high of Rs 66.45 and a low of Rs 65.20 so far during the day. The stock had hit a 52-week high of Rs 76.80 on 17 February 2012. The stock had hit a record low of Rs 35.75 on 30 December 2011.

The stock had outperformed the market over the past one month till 24 December 2012, rising 7.65% compared with the Sensex's 4.04% rise. The scrip had also outperformed the market in past one quarter, gaining 16.16% as against Sensex's 3.12% rise.

The large-cap company has an equity capital of Rs 1640.05 crore. Face value per share is Rs 10.

JSW Energy said it continues to evaluate various opportunities to secure raw material resource as also growth opportunities. However, the management is currently not in specific discussions for any particular project, JSW Energy said while issuing a clarification with regard to media reports that the company is in talks with Lanco Infratech to acquire a power plant in Karnataka.

JSW Energy reported consolidated profit after tax of Rs 254 crore in Q2 September 2012, compared with net loss of Rs 109 crore in Q2 September 2011. Total income from operations jumped 108% to Rs 2077 crore in Q2 September 2012 over Q2 September 2011.

JSW Energy is working on power solutions in the states of Karnataka, Maharashtra, Rajasthan, Himachal Pradesh & Chhattisgarh. The company has an operational capacity of 2600 megawatts (MW), apart from 540 MW of generating capacity under construction. The company aims to enhance generation capacity to 11,770 MW.

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