Morgan Stanley Maintains Overweight Rating on JSW Energy with ₹693 Target Price

0 min read     Updated on 21 Jan 2026, 09:22 AM
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Overview

Morgan Stanley has maintained its Overweight rating on JSW Energy with a target price of ₹693.00 per share. The rating indicates the investment bank's continued positive outlook on the power generation company's prospects and suggests expectations for outperformance relative to sector peers.

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Morgan Stanley has maintained its Overweight rating on JSW Energy , setting a target price of ₹693.00 per share. The investment bank's decision to retain its positive stance reflects continued confidence in the power generation company's market position and growth prospects.

Analyst Rating Details

The following table summarizes Morgan Stanley's current recommendation:

Parameter: Details
Rating: Overweight
Target Price: ₹693.00
Brokerage: Morgan Stanley

Rating Significance

An Overweight rating from Morgan Stanley indicates that the investment bank expects JSW Energy's stock to outperform relative to other stocks in the power sector or broader market indices. This rating suggests that analysts view the company's current valuation as attractive relative to its growth potential and operational fundamentals.

The ₹693.00 target price represents Morgan Stanley's assessment of the stock's fair value based on their analysis of the company's financial metrics, industry positioning, and market conditions. Investment decisions should consider multiple factors including individual risk tolerance and portfolio objectives.

Historical Stock Returns for JSW Energy

1 Day5 Days1 Month6 Months1 Year5 Years
-0.27%-3.31%-0.09%-9.92%-17.51%+517.71%
JSW Energy
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JSW Energy Secures Second 1,600 MW Power Purchase Agreement with West Bengal DISCOM

2 min read     Updated on 20 Jan 2026, 07:23 PM
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Reviewed by
Shriram SScanX News Team
Overview

JSW Energy's subsidiary has signed a second 1,600 MW Power Purchase Agreement with West Bengal DISCOM for a thermal power plant at Salboni, expanding total site capacity to 3,200 MW. The greenfield project features super/ultra-super critical technology and will be commissioned within 6 years using domestic coal under SHAKTI B (iv) policy. This agreement increases JSW Energy's secured thermal capacity to 10.7 GW and establishes Salboni as the company's largest single-location asset, supporting the company's target of 30 GW generation capacity by 2030.

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JSW Energy has strengthened its thermal power portfolio with the signing of a second Power Purchase Agreement (PPA) with West Bengal State Electricity Distribution Company Limited (WBSEDCL). JSW Thermal Energy Two Limited, a wholly-owned subsidiary of the company, secured the agreement for a 1,600 MW greenfield thermal power plant at Salboni, West Bengal, marking a significant expansion of the company's presence in the state.

Project Specifications and Timeline

The new thermal power facility will comprise two units of 800 MW each, utilizing super/ultra-super critical technology. The project is scheduled for commissioning within 6 years and will be strategically located at Salboni, West Bengal. This represents the second PPA that JSW Energy has signed with WBSEDCL, following an earlier 1,600 MW agreement signed in March 2025.

Parameter: Details
Capacity: 1,600 MW (2 x 800 MW)
Technology: Super/Ultra-Super Critical
Location: Salboni, West Bengal
Timeline: 6 years for commissioning
Fuel Source: Domestic linkage coal
Policy Framework: SHAKTI B (iv)

Strategic Significance and Capacity Expansion

With this second agreement, JSW Energy's total capacity at the Salboni site will reach 3,200 MW, establishing it as the company's largest single-location asset. The project was awarded through a competitive bidding process and will benefit from domestic linkage coal allocated to West Bengal under the SHAKTI B (iv) policy framework.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, highlighted the strategic importance of this development: "This makes Salboni our largest single-location asset and reinforces our commitment to India's energy security through the supply of reliable and affordable power. The project benefits from its strategic proximity to coal blocks, as well as synergies with the existing 1,600 MW unit under construction, driving significant operational efficiencies."

Enhanced Thermal Portfolio

The agreement significantly bolsters JSW Energy's thermal generation capabilities. The company currently operates 5,658 MW of thermal generation capacity and has 3,200 MW under construction at Salboni. Additionally, the company holds an option to add 1,800 MW at KSK Mahanadi, which would bring the total thermal capacity to 10,658 MW.

Capacity Category: Capacity (MW)
Current Operational: 5,658 MW
Under Construction (Salboni): 3,200 MW
Optional (KSK Mahanadi): 1,800 MW
Total Potential Thermal: 10,658 MW

Overall Generation Portfolio

JSW Energy's comprehensive generation portfolio demonstrates the company's diversified approach to power generation. The company has secured a total locked-in generation capacity of 32.1 GW, distributed across various stages of development and fuel sources.

The portfolio breakdown includes:

  • 13.3 GW operational capacity
  • 14.0 GW under construction across thermal and renewable projects
  • 150 MW under-acquisition hydro capacity
  • 4.6 GW pipeline capacity

Complementing its generation assets, JSW Energy has also secured 29.4 GWh of energy storage capacity through hydro pumped storage projects (26.4 GWh) and battery energy storage systems (3.0 GWh).

Future Growth Trajectory

The company has established ambitious targets for capacity expansion and environmental sustainability. JSW Energy aims to achieve 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030. The company has also committed to achieving carbon neutrality by 2050, aligning with global sustainability goals while maintaining its growth trajectory in India's evolving energy landscape.

Historical Stock Returns for JSW Energy

1 Day5 Days1 Month6 Months1 Year5 Years
-0.27%-3.31%-0.09%-9.92%-17.51%+517.71%
JSW Energy
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