JSW Energy jumps on getting approval from NCLT to acquire Ind-Barath Energy (Utkal)

JSW Energy is currently trading at Rs. 232.65, up by 4.85 points or 2.13% from its previous closing of Rs. 227.80 on the BSE.

The scrip opened at Rs. 230.95 and has touched a high and low of Rs. 234.40 and Rs. 227.60 respectively. So far 32780 shares were traded on the counter.

jsw energy signs power purchase pact with haryana discom
jsw energy signs power purchase pact with haryana discom

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 408.70 on 14-Oct-2021 and a 52 week low of Rs. 182.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 250.05 and Rs. 220.15 respectively. The current market cap of the company is Rs. 38338.82 crore.

The promoters holding in the company stood at 74.69%, while Institutions and Non-Institutions held 15.35% and 9.96% respectively.

JSW Energy has received an approval from the National Company Law Tribunal (NCLT) for its proposal to acquire Ind-Barath Energy (Utkal) which is developing a 700 MW thermal power project in Odisha. The Ind-Barath owns the 700 MW under-construction thermal power plant.

Resolution Plan submitted by the company for Ind-Barath Energy (Utkal), which was approved by the Committee of Creditors (CoC) on October 14, 2019, has received the approval of National Company Law Tribunal, Hyderabad on July 25, 2022.

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.

Leave a Comment