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      JSW Energy jumps on acquisition plans

      MoM Team / Mumbai, Sep 08, 2015 11:21 AM IST

        JSW Energy jumps on acquisition plans

        JSW Energy rose 5 percent to Rs 71.20n BSE on reports the company may acquire Jaypee Group's 500 megawatt Bina thermal power project in Madhya Pradesh.

        Meanwhile, the BSE Sensex was up 4.89 points, or 0.02 percent, to 24,898.70.

        On BSE, so far 4.18 lakh shares were traded in the counter, compared with an average volume of 2.83 lakh shares in the past one quarter.

        The stock hit a high of Rs 73 and a low of Rs 68.25 so far during the day. The stock hit a 52-week high of Rs 126.40 on 3 February 2015. The stock hit a 52-week low of Rs 59.50 on 24 August 2015.

        The stock had underperformed the market over the past one month till 7 September 2015, falling 12.07 percent compared with 11.84 percent fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 34.79 percent as against Sensex's 7 percent decline.

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

        According to reports, JSW Energy is all set to acquire Bina Thermal Power from Jaiprakash Power Ventures for about Rs 3500 crore. The power plant has an installed capacity of 500 megawatt and sufficient infrastructure to ramp it up to 1,500 megawatt (MW) with marginal investment. JSW Energy and Jaypee Group agreed on the broad contours of an agreement yesterday, 7 September 2015, in New Delhi, reports added.

        Once completed, this would be the third acquisition by JSW Energy in the past one year that would almost double its power generation capacity to 6,000 MW from the current 3,140 MW. Another 8,630 MW of capacity is under development, reports said.

        Reports suggested that the Jaypee Group had acquired the Bina unit in Madhya Pradesh from the Aditya Birla Group. The unit supplies most of its output to the MP State Electricity Board under a long-term power purchase agreement. Around 30 percent is sold in the spot market.

        On a consolidated basis, JSW Energy's net profit dropped 14.75 percent to Rs 277.45 crore on 16.31 percent decline in total income to Rs 2176.09 crore in Q1 June 2015 over Q1 June 2014.

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

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      Source: Capital Market

    JSW Energy jumps 16.42% in five sessions

    The stock is now quoted at Rs 77.60 on the BSE


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