JSW Energy gains on bargain hunting

21 Jun 2022 , 03:15 PM

The stock fell 20.76% in the past six sessions to end at Rs 195.95 yesterday, from its recent closing high of Rs 247.30 recorded on 10 June 2022. In the past one year, the stock soared 31.71% while the benchmark Nifty50 fell 0.64% and Sensex rose 0.05% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 39.450. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock is trading below its 50-day, 100-day and 200 day simple moving average (SMA) placed at 16482.73, 16807.72 and 17224.13 respectively. JSW Energy is one of the leading private sector power producers in India and part of the $13 billion JSW Group. JSW Energy has established its presence across the value chains of power sector with diversified assets power generation, and transmission. The company reported a multi-fold jump in consolidated net profit of Rs 864.35 crore in Q4 FY22 as compared to a net profit of Rs 106.60 crore in Q4 FY21. Net sales grew 55.5% YoY to Rs 2,440.68 crore during the quarter. Powered by Capital Market – Live News