JSW Group stock engaged in the business of developing, operating, and maintaining port and other infrastructure jumped 4 percent in the day’s trade upon receiving a Letter of Intent from Jawaharlal Nehru Port Authority.
With a market capitalization of Rs. 50,516 Crores, the shares of Jsw Infrastructure Limited were trading at Rs. 240.55, up 3.28 percent from its previous day’s close price of Rs. 232.90.
Jsw Infrastructure Limited has received a Letter of Intent from Jawaharlal Nehru Port Authority (JNPA) for the Equipping, Operation, Maintenance, and Transfer of Additional Liquid Cargo Berths LB3 and LB4 at Jawaharlal Nehru (JN) Port through Public Private Partnership (PPP) Mode. The Concession Agreement is to be signed within 30 days of the issue of Letter of Intent.
JSW Infrastructure Limited which is part of the famous Indian conglomerate the JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023.
JSW Infrastructure Limited is engaged in the business of developing, operating, and maintaining port infrastructure, port-related services like cargo handling, storage solutions, logistics solutions, development of other types of infrastructure, and so on.
Its cargo handle mix as of Q3FY24 is as follows, the third-party cargo consists of 39 percent and the remaining 69 percent of cargo handled is of the JSW Group.
Its revenue from operations grew by 40.55 percent from Rs. 2,273 Crores in FY22 to Rs. 3,195 Crores in FY23, accompanied by increasing profits of Rs. 330 Crores to Rs. 750 Crores.
Written by: Bharath K.S
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