JSW Energy gains after subsidiary bags order from SECI

JSW Energy rose 1.36% to Rs 85.85 after the company said its subsidiary received letters of award for 450 MW of Wind capacity from Solar Energy Corporation of India.

In a BSE filing, made after market hours on Friday (19 March 2021), the company said that JSW Future Energy, a wholly owned subsidiary of JSW Energy, has received letters of award for a total wind capacity of 450 megawatt (MW) from Solar Energy Corporation of India (SECI) against tariff based competitive bid invited by SECI for setting up of 1200 MW interstate transmission system (ISTS)-connected wind power projects.

JSW Energy is engaged in the business of power generation and transmission primarily in the states of Karnataka, Maharashtra, Rajasthan, and Himachal Pradesh. The company has its presence across power sectors including generation, power transmission, mining, power plant equipment manufacturing and power trading. It has a 4,559MW generation capacity, out of which 3,158MW is thermal power, 1,391MW is hydropower and 10 MW is solar power.

The company's consolidated net profit declined 68.66% to Rs 123.53 crore on a 17.43% fall in net sales to Rs 1608.86 in Q3 FY21 over Q3 FY20.

On a year-to-date (YTD) basis, the stock has gained 26.46% while the benchmark Sensex has added 4.04% during the same period.

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