JSW Energy shows some spark

JSW Energy is showing some spark today. The stock price is up over 5% at Rs.71.20 and this is after hitting an intra day high of Rs.73. Its 52-week high is at Rs.126.40.

The stock is up on unconfirmed news that it is ready to acquire Bina thermal power plant from JP Power. This plant has a 500 MW installed capacity and the price tag is at Rs.3500 crore. This plant has enough infrastructure to expand the capacity to 1500 MW and that too with little investment.

Prior to this, last November, the company has struck a deal with the same JP Power to buy two hydro power projects for Rs.9700 crore though this acquisition has yet to be completed.

JSW Energy has already got a debt of around Rs.8200 crore and it is reportedly in talks to recast Rs.6000 crore debt under the 5/25 scheme