JSW Energy share price touched high level today, will make new high or will reverse till Rs 657, know the trend of big investors
JSW Energy share price is experiencing notable fluctuations in the stock market. The latest trading data shows that the share price is currently around ₹720.05, reflecting a decrease of approximately 2.25% from the previous close of ₹736.60. This article delves into the current performance of JSW Energy shares, recent market trends, and expected news that could impact investors.
Main Points
On September 11, 2024, JSW Energy’s share price opened at ₹724 and reached a high of ₹728, while the low for the day was ₹707. The trading volume for the day has been significant, with over 2.9 million shares exchanged, indicating robust investor interest. The stock’s performance over the past week shows a slight upward trend, with a 1.32% increase, while the three-month performance has been more impressive, with a rise of 19.17%.
Technical Analysis
From a technical perspective, JSW Energy’s stock is currently trading near its 50-day moving average (DMA), which is crucial for determining potential support levels. The stock is approximately 27% above its 200DMA, suggesting a strong upward momentum. However, it is essential to monitor the stock’s ability to maintain support around the 50DMA to continue its upward trajectory. The stock has recently broken out of a base on its weekly chart, indicating potential for further gains if it can stabilize above the pivot point of ₹729.55.
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Historical Performance
Over the past year, JSW Energy has shown remarkable growth, with a 96.91% increase in its share price. This performance is significantly higher than the broader market, with the Nifty 100 index only returning 54.26% over the same period. The stock’s 52-week range has been between ₹342.25 and ₹752.40, highlighting its volatility and potential for significant returns.
Expected News and Market Trends
Market analysts are optimistic about JSW Energy’s future, citing its strong earnings reports and increasing institutional interest. The company’s operating revenue for the trailing twelve months stands at ₹11,437.52 crore, with an annual growth rate of 10%. This growth is supported by a return on equity (ROE) of 8%, which, while fair, indicates room for improvement. The stock’s earnings per share (EPS) rank is 88, suggesting consistent earnings performance, although the relative strength (RS) rating is at 76, indicating a need for better recent price performance.
Institutional Holdings
Recent reports indicate that institutional holdings in JSW Energy have increased, which is a positive sign for the stock’s stability and future growth. The company’s market capitalization is currently around ₹125,848 crore, reflecting its strong position within the utility sector. The increase in foreign institutional investor (FII) holdings from 8.37% to 15.37% over the past year also underscores growing confidence in the company’s prospects.
Competitive Landscape
JSW Energy operates in a competitive environment alongside peers such as NTPC and Adani Power. The company’s ability to maintain its market position will depend on its operational efficiency and strategic initiatives in renewable energy, which is becoming increasingly important in today’s market. Analysts recommend keeping an eye on sector trends, particularly those related to government policies on renewable energy and infrastructure development, as these could significantly impact JSW Energy’s growth trajectory.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
