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JSW Energy investor stakes rise, but analysts see limited upside
Mutual funds lifted their JSW Energy stake to 7.42% as of June-end, and foreigners increased theirs to 9.86%, even as brokerages flag slower renewables buildout for FY28.
JSW Energy has seen growing institutional ownership over the past six months, according to BSE shareholding data cited by LiveMint Markets. Mutual funds raised their stake to 7.42% as of June-end from 5.94% as of December-end, while foreign portfolio investors increased their holding to 9.86% from 8.16% over the same period.
Despite that support, LiveMint Markets said analysts believe much of the stock’s recent gains may be harder to sustain. The shares have gained about 13% in 2026, outperforming peers such as Tata Power at -3%, Torrent Power at 10%, and NTPC Green at -3%, but analysts point to limited near term catalysts.
The article also highlighted capacity plans alongside concerns about execution risk. JSW Energy has added 1.1 GW in FY27 so far and is targeting 3 GW of capacity additions for the full fiscal year, while Motilal Oswal Financial Services downgraded the stock to neutral after the shares rose about 17% over the prior four months, citing reduced valuation comfort.
Motilal Oswal cut its FY28 EBITDA estimate by 9% after slower-than-expected renewable capacity additions of around 4 GW in FY28, and its revised target price of ₹550 implies about 2% downside. The piece added that Axis Securities cut revenue and EBITDA estimates as well, while retaining a Buy rating with a target price of ₹630, citing a balance sheet described as well leveraged for capacity addition through 2032 and few near-term concerns beyond ramp-up pace.