JSW Energy shares extended their rally for a fourth consecutive session on the NSE today, surging 7.5% to a high of ₹503.85.The stock gained after Morgan Stanley assigned ‘overweight’ rating to the JSW Energy. Analysts at the global brokerage reportedly cited that JSW Energy’s expansion in green energy, inorganic growth in thermal power, and investments in storage assets are key drivers of its positive outlook.

The company’s share has had a tough start to the year on the stock exchanges, falling 27% since the beginning of 2025. The company’s shares however dropped to 52-week low on February 17, reaching ₹418.75. The shares are currently trading at ₹498.95. These opened at ₹474 and reached an intraday high of ₹503.85 on Friday.

Recently, JSW Energy has received approval from the National Company Law Tribunal (NCLT) to acquire KSK Mahanadi Power Company (KMPCL), a 3.6 GW coal-fired power plant in Chhattisgarh. The acquisition, valued at ₹15,990 crore, is expected to be completed by Q1FY26, pending clearance from the Competition Commission of India (CCI). KMPCL includes 1.8 GW of operational capacity, with an additional 1.8 GW of brownfield expansion potential.Analysts view the acquisition favourably, citing JSW Energy’s ability to expand market share through competitive bids and its well-integrated business model, positioning it as a key player in India's energy sector.

JSW Energy’s well-integrated business model and strong role in India’s energy transition have kept analysts bullish on its prospects. The company is expanding its green energy portfolio, investing in storage assets, and growing its thermal segment through acquisitions. It has also gained market share in recent bids at competitive tariffs.

The global brokerage firm has reportedly projected a 24% EBITDA CAGR over FY24-28, with renewable energy EBITDA expected to grow at 52% annually. While there remains anticipation of a decline in FY28, reportedly attributed to the 1.8 GW brownfield expansion by the company, which will increase debt, RoE and RoCE are projected to improve to 15% and 8% by FY32, as revenue from the additional capacity begins in FY29.

JSW Energy, a private power producer under the JSW Group, reported a 27% year-on-year decline in consolidated net profit for Q3FY25 due to lower revenues from thermal and hydropower plants. Revenue dipped 5.6% to ₹2,400 crore, as additional sales from renewable capacity and Utkal Unit-1 were offset by lower short-term realisations at Ratnagiri and Vijayanagar plants.

JSW Energy stock analysis 2025

JSW Energy shares rise 8%, rally extends for fourth consecutive session