JSW Infrastructure Shares Jump Over 4% On New 'Buy' From Motilal Oswal

Shares of JSW Infrastructure Ltd. jumped over 4% on Thursday after Motilal Oswal initiated coverage with a 'buy' call on the company.

The brokerage has set a price target of Rs 300 per share, implying a upside of 22%. The brokerage said that this is the fastest-growing port infrastructure company with focus on increasing market share.

• Cargo volumes increased by 42.7% CAGR to 92.8 MMT over FY21-23

• Strengthening market presence to lead 19% volume CAGR over FY23-36

• Expect overall Ebitda margin at 53-55% vs 50% over the past three years

• Sees cash flow generation to remain strong despite acquisitions.

Shares of JSW Infrastructure rose as much as 4.03% during the day to Rs 256.85 apiece on the NSE. It was trading 1.86% higher at Rs 251.5 apiece, compared to a 0.27% decline in the benchmark Nifty 50 as of 10:23 a.m.

It has risen 59.2% in the last 12 months. The total traded volume so far in the day stood at 1.7 times its 30-day average. The relative strength index was at 65.

Three out of the six analysts tracking have a 'buy' rating on the stock, one recommends a 'hold', and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 13.5%.