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In a significant development, JSW Infrastructure’s shares reached a record high of ₹188.75, marking a substantial 59% increase from its initial public offering (IPO) price of ₹119. This surge followed the company’s strong second-quarter earnings for the fiscal year 2024, which saw an impressive 85% growth in profit, a 25% rise in revenue, and a 33% boost in EBITDA. The company’s market capitalization consequently expanded to ₹39,595.5 crore.
The firm’s cargo handling volumes also demonstrated considerable growth with a 27% year-on-year increase. This performance aligns with the company’s ongoing expansion strategy, which recently involved the acquisition of Marine Oil Terminal Corp in FOIZ for $187 million.
JSW Infrastructure had recently raised ₹2,800 crore through an IPO that was oversubscribed by 37.37%, indicating strong investor confidence in the firm’s prospects. The majority stake in the company is held by the Sajjan Jindal Family Trust, while a minor portion is owned by the JSW Infrastructure Employees Welfare Trust.
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This story originally appeared on Investing
