JSW Energy shares jump 3% on ₹39cr Tidong Power buy
JSW Energy's stock climbed 3% to ₹552 on Friday, right after its subsidiary, JSW Neo Energy, announced it's buying Tidong Power Generation for ₹39 crore.
This is part of their big push to hit 30 gigawatts (GW) of renewable energy by 2030—a move that's already giving the stock some momentum for a second day in a row.
JSW's plans and recent quarterly performance
JSW wants renewables to make up 70% of its energy mix by 2030 and is also planning to acquire GE Power's boiler business through a share swap.
The company saw its net profit soar by 42% year-on-year this April-June quarter, reaching ₹743 crore, with revenue nearly doubling to ₹5,143 crore.
Their installed capacity hit 12,768 megawatts (MW) as of June 30, FY25—up a huge 70% from last year—thanks in part to snapping up assets from Mytrah Energy (now O2 Power).