Currently trading at around ₹236, the newly listed JSW Infra has surged almost 100 percent jump from its IPO price of ₹119 in less than 5 months. Technical and fundamental experts suggest if you should still buy the infra stock.
JSW Group shares declined up to 4 percent in intra-day trade on Monday after a first information report (FIR) was filed against Chairman Sajjan Jindal by a Mumbai woman, accusing him of rape. However, the chairman of the steel-to-power conglomerate has denied the allegations.
JSW Steel shares tanked 3.62 per cent to hit a low of Rs 836 on BSE. The stock cut most losses as the session progressed. It was later trading at Rs 861.75, down 0.65 per cent.
Shares of JSW Infrastructure surged as much as 8 per cent to Rs 245 on Wednesday, its new record highs, commanding a total market capitalization of more than Rs 51,000 crore mark.
The acquisition values PNP Port at around Rs 700 crore with a current capacity of 5 million tonnes per annum (MTPA) and potential to expand to 19MTPA. This acquisition is part of JSW Infrastructures strategic direction to explore opportunities to expand organically and inorganically, to provide end-to-end logistics services near the cargo consumption centres.