1/5/2025, 5:43:03 pm

Buy JSW Infrastructure; target of Rs 370: Motilal Oswal

JSW Infrastructure acquired a 70.37% stake in Navkar Corporation, effective October 11, 2024. Consolidated revenue rose 17% YoY to INR12.8b, with cargo volumes up 5% YoY at 31.2m tons, driven by coal terminals and new contributions, partly offset by lower iron ore at Paradip. EBITDA grew 10% YoY to INR6.4b, with margins at 49.9%. APAT increased 19% YoY to INR4.4b.