JSW Energy recovers on bargain hunting

JSW Energy rose 3.87% to Rs 53.70 at 15:17 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 49.07 points or 0.22% at 22,452.96.

On BSE, so far 3.96 lakh shares were traded in the counter as against average daily volume of 4.02 lakh shares in the past one quarter.

The stock was volatile. The stock surged as much as 5.02% at the day's high of Rs 54.30 so far during the day. The stock lost as much as 1.64% at the day's low of Rs 50.85 so far during the day. The stock had hit a record low of Rs 33.80 on 6 August 2013. The stock had hit a 52-week high of Rs 69.10 on 3 May 2013.

The stock had underperformed the market over the past one month till 2 May 2014, sliding 15.93% compared with the Sensex's 0.65% fall. The scrip had, however, outperformed the market in past one quarter, jumping 17.23% as against Sensex's 9.21% rise.

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

Shares of JSW Energy had declined 9.29% in three trading sessions to settle at Rs 51.70 on Friday, 2 May 2014, from a recent high of Rs 57 on 28 April 2014.

JSW Energy's consolidated net profit fell 48% to Rs 174.62 crore on 10.6% decline in net sales to Rs 2018.49 crore in Q4 March 2014 over Q4 March 2013.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.

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