JSW Energy Advances After Signing Contract With GE Renewable For Supply Of 810 MW Wind Turbines; RSI > 70

Shares of JSW Energy Ltd. Rose 2.6% to Rs 389 apiece after the company signed a contract with GE Renewable Energy for the supply of 810 Mega Watt of onshore wind turbines.

The turbines would be used for JSW Energy’s under-construction pipeline of 2.5 Giga Watt of renewable projects in India. In an exchange filing, JSW Energy said that the supply of turbines will begin by the second quarter of calendar year 2022. The turbines are expected to produce enough green energy to meet the annual electricity demands of more than 2.1 million households in India.

Of the 14 analysts tracking the company, four maintained ‘buy’, one maintained ‘hold’ and nine maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 61.2%.

The relative strength index on the stock was 76, suggesting it may be overbought.

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MRF Climbs The Most In Over 12 Weeks

Shares of MRF Ltd. rose 3.78%, the most in over 12 weeks, to Rs 84,346.25 apiece. Trading volume was six times the 20-day average for this time of the day.

MRF trades at 27 times its estimated earnings per share for the coming year.

Of the 11 analysts tracking the company, five maintained ‘buy’, two maintained ‘hold’ and four maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 1%.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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