JSW Infrastructure rises 3% post-subsidiary's Marine Oil Terminal acquisition

JSW Infrastructures Limited witnessed a 3% surge in its shares, reaching ₹230 in early trade on December 20 but closed 6% down from yesterday’s close not only JSW Infrastructures stock fell overall market shows profit booking. The jump in JSW Infrastructures stock came after the company announced completion of the acquisition of Marine Oil Terminal by its wholly-owned subsidiary, JSW Terminal in the Middle East. This move has elevated Marine Oil Terminal to the status of a step-down subsidiary of JSW Infrastructures, as disclosed in a regulatory filing on December 19.

Stock Performance

Early morning JSW Infra's shares were trading at ₹229, marking a 1.7% increase from the previous close on the NSE. But close 6% down as the overall market showed profit booking in the second half on Wednesday, where nifty closed at 21,150 down 1.41% and sensex fell more then 1,000 points in intraday and closed at 70,506 down 1.30%. Since its listing on October 3, JSW Infra stock has delivered an return of nearly 23%. Over the last month, the stock has been doing well, showing a nearly 2% increase. This morning, the total return for the past month was reported at a solid 8%. Zooming out to a six-month view, the stock has performed impressively, delivering 34% return.

Recent Developments

In early December, JSW Infrastructures entered into a share purchase agreement with SP Port Maintenance, a Shapoorji Pallonji Group company. The agreement entails the acquisition of a 50% plus one share of PNP Maritime for approximately ₹270 crore. This move involves acquiring a majority stake in PNP Maritime Services (PNP Port), an operational port company located in Shahbaj, Raigad district of Maharashtra.

Financial Performance

JSW Infrastructure's September quarterly results showcased a 85% year-on-year rise in consolidated profit, reaching ₹255.87 crore. Its revenues also witnessed growth, increasing to ₹895.48 crore compared to ₹696.51 crore in the previous fiscal year. This robust financial performance reflects JSW Infrastructures' strong position in the market and its ability to capitalize on growth opportunities.

Final words

JSW Infrastructures Limited continues to make strategic strides in the industry, exemplified by the recent acquisition of Marine Oil Terminal and the ongoing expansion into PNP Maritime. The company's commitment to growth, coupled with its impressive financial performance, positions it as a key player in the infrastructure sector. Investors and stakeholders can look forward to sustained value creation as JSW Infrastructures navigates the dynamic landscape of the industry.