JSW Infra share price locked at 8% upper circuit to hit 52-week high; brokerage sees 12% upside, raises TP by 2%
JSW Infrastructure Share Price Today: Shares of JSW Infrastructure were locked at 8 per cent upper circuit at ₹245 apiece on the BSE, hitting its 52-week high mark on Wednesday, December 6. Domestic brokerage firm JM Financials has reiterated its ‘buy’ rating for the stock and raised the target price by 2 per cent over the recent uptrend in share price. At a current market price (CMP) of ₹238, JM Financials has given a revised target price of ₹255 for JSW Infrastructure, which is 2 per cent higher than the previous target of ₹250 given in March 2023 and sees a potential upside of 12.3 per cent on the stock.
On Wednesday, shares of JSW Infrastructure opened at ₹227.20, and gained 7.83 per cent to hit a 52-week high of ₹245, against a previous close of ₹227.15 on the BSE. The marine cargo handling company commands a market capitalisation of ₹50,179.54 crore. Earlier this week, JSW Infrastructure announced that said it has signed an agreement with SP Port Maintenance, a Shapoorji Pallonji Group company, to acquire majority stake in PNP Maritime Services (PNP Port).
The agreement is to acquire over 50 per cent shares in PNP Port through its subsidiary JSW Dharamtar Port, JSW Infrastructure said in an exchange filing. "JSW Dharamtar Port has entered into share purchase and other relevant transaction documents for acquisition of 50 per cent plus 1 shares (10,00,001 equity shares) of PNP Maritime Services Private Limited from SP Port Maintenance Private Ltd," it said. PNP Maritime Services will become a step-down subsidiary of the company, it said.
The transaction is for maximum equity purchase consideration of ₹270 crore. It is expected to be completed in 15 days. In a separate statement, JSW Infrastructure said the
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