Market players give JSW Energy a drubbing

If the market grapevine is to be believed, a leading Indian merchant bank has been buying shares of JSW Energy in its proprietary book. A good chunk of the purchases has been between Rs 106 and Rs 109, said an institutional dealer. JSW Energy made a tepid debut on the bourses in early January, logging just about a 6% rise over the IPO offer price of Rs 100.

According to analysts, unlike some other recently-listed power companies, JSW Energy is already a profit-making group with a significant presence in the sector. Shares of JSW Energy ended 0.5% lower at Rs 108.9 on the BSE.

Contributed by Nishanth Vasudevan, Shailesh Menon & Santosh Nair