JSW Energy gains on bulk deals; GQG Partners buys Rs 410.94 crore shares

Shares of JSW Energy rose 3% on the NSE on August 16 after the company announced on August 14 that Rajiv Jain’s emerging markets fund GQG Partners had purchased Rs 410.94 crore of shares. bond of JSW Energy. Nearly 1.19 crore of shares of JSW Energy were purchased by the US-based GQG Partners Emerging Markets Fund, which is supported by Rajiv Jain’s GQG Partners through the above transactions. open market with an average price of Rs 345 per share. GQG Partners is a small American asset management company.
Additionally, Kolkata-based Authum Infrastructure & Investments sold 1.6 million shares at the same price.
Shares of JSW Energy closed on the NSE at Rs 342 per share on August 14. For the June quarter of 2023, JSW Energy reported a 48% drop in consolidated net profit to Rs 290 billion. Revenue also fell 3.3% to Rs 1,222 crore during the same period. While earnings before interest, taxes, depreciation and amortization (EBITDA) increased 19.6% to Rs 1,222.1 crore from Rs 1,022 in the previous year, the EBITDA margin was 41.7% compared to 33.8% in last year. JSW Energy, headquartered in Mumbai, is a major Indian energy company operating in the wind, thermal and hydroelectric power sectors. Present across India, it generates 6677 MW of energy. It also holds shares in natural resource companies in South Africa. In March 2023, it completed the acquisition of 1,753 MW electrical assets from Mytrah Energy in South, West and Central India.