Stock to watch: JSW Infrastructure shares in focus after MD & CEO steps down

Shares of JSW Infrastructure will likely be in focus when markets resume trading on Wednesday after the company informed that its Managing Director and Chief Executive Officer Arun Maheshwari has stepped down from these positions and consequently as a Key Managerial Personnel (KMP).

Maheshwari will continue to serve as a Non-Executive Director on the Board of the Company, the exchange filing said.

He will be moving to a new role within the JSW group. He has also stepped down from the position of Joint MD and consequently as KMP of JSW Infrastructure's subsidiary South West Port Limited.


Maheshwari will continue to serve in his current position in the above companies till November 7, 2024 to support an orderly transition, the filing said.

Shares of JSW Infrastructures had ended at Rs 323.45 on the NSE on Tuesday, gaining by Rs 8.90 or 2.83% over the Monday closing price.

JSW Infrastructure is part of the JSW Group, a multinational conglomerate known for its diverse portfolio spanning steel, energy, infrastructure, cement, paints, venture capital, sports and defence sectors.

JSW Infrastructure is the second-largest private port operator in India, boasting significant cargo handling capacity of 170 MTPA.

Shares of JSW Infrastructure have rallied by more than 90% over the past 12 months, outperforming Nifty which has delivered 28% returns during this period. This year, so far the stock has gained by nearly 50%.

The stock has slipped below its 50-day simple moving average (SMA) of Rs 325 after galling by 6% in the last five trading sessions. However, it is still trading above its 200-day SMA of Rs 275.

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