JSW Energy gets energized after incorporating subsidiary

JSW Energy gained 1.38% to Rs 92.10 at 9:58 IST on BSE after the company announced that it has incorporated a wholly owned subsidiary, JSW Solar on 1 January 2018.

The subsidiary was incorporated to pursue business opportunities in the renewable energy space, energy storage systems, micro grids, etc.

The announcement was made after market hours yesterday, 4 January 2018.

Meanwhile, the S&P BSE Sensex was up 187.65 points or 0.55% at 34,157.29.

On the BSE, 87,923 shares were traded on the counter so far as against the average daily volumes of 15.9 lakh shares in the past one quarter. The stock had hit a high of Rs 92.50 and a low of Rs 91.70 so far during the day. The stock had hit a 52-week high of Rs 94.20 on 1 January 2018 and a 52-week low of Rs 58.80 on 24 January 2017.

The stock had outperformed the market over the past one month till 4 January 2018, gaining 8.28% compared with the Sensex's 3.35% rise. The scrip had also outperformed the market over the past one quarter, rising 18.6% as against the Sensex's 7.26% rise. The scrip had also outperformed the market over the past one year, jumping 48.57% as against the Sensex's 27.55% rise.

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

JSW Energy's consolidated net profit rose 36.6% to Rs 296.89 crore on 0.1% rise in net sales to Rs 2049.04 crore in Q2 September 2017 over Q2 September 2016.

JSW Energy is a part of JSW Group and is a integrated power company.

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