Breakout stock: JSW Infra share price jumps over 5% amid heavy volumes, may see 26% more upside. Check target price

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₹274.50 apiece on the BSE. The volumes in JSW Infrastructure shares reached 93 lakh on May 17 as compared to its one week average of 36 lakh shares. Technically, JSW Infrastructure shares saw a major breakout above ₹265 mark and the stock was trading around ₹273 apiece.

“JSW Infra stock underwent a sharp rally towards ₹275 and then it witnessed a correction to retest the breakout zone. After that, the stock was moving in a band of ₹265 - 235. Now there is a fresh breakout above ₹265 which is accompanied with decent volumes," brokerage firm Anand Rathi said.

Also Read: Ashok Leyland share price hits lifetime high for second straight session. More steam left? It advises traders to go long in the JSW Infrastructure stock near ₹265 – 270 with a stop loss of ₹240 for the upside target of ₹326 in the coming 1 - 3 months. JSW Infra share price target implies an upside of nearly 26% from its Thursday’s closing price.

JSW Infrastructure provides maritime-related services including, cargo handling, storage solutions, and logistics services. The company’s cargo volumes handled in FY24 grew 15% year-on-year (YoY) to 106.5 MMT. Recently, the company signed a concession agreement with the Karnataka Maritime Board to develop a 30 MTPA greenfield port in Keni, Karnataka.

Also Read: Multibagger Titagarh Rail share price rises almost 8% to 52-week high post Q4 results According to Anand Rathi, key catalysts for growth for JSW Infrastructure include increasing demand for steel in India, necessitating a steady supply of raw materials, and transportation of iron ore exports and thermal coal for coastal power plants. Meanwhile, the company’s management aims to maintain volume CAGR of ~15% over the long term. It has guided for a capex of