JSWINFRA

Sept 29 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• UNIT GETS NOTICE SEEKING TAX OF 965.8 MILLION RUPEES

Source text: ID:nBSE17cvXm

Further company coverage: JSWN.NS

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** JSW Infrastructure JSWN.NS rises as much as 1.8% to 314.5 rupees

** Jefferies maintains "buy", PT of 375 rupees; sees capacity addition in existing terminals, larger JSW Group expansion plans aiding growth

** Ports operator says it's aiming to raise annual cargo handling capacity to 400 million tonnes by FY30 from current 177 million tonnes

** Jefferies says subsequent volume growth will result in revenue, EBITDA rising 20% CAGR over FY25-FY30

** Adds cargo from other JSW group firms should provide capacity utilisation comfort

** Stock rated "buy" on average, per data compiled by LSEG

** YTD, JSWN down 1% YTD

(Reporting by Nandan Mandayam in Bengaluru)

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Repeats to widen distribution; no changes to text

Aug 14 (Reuters) - Shares of JSW Cement JSWC.NS debuted 4% higher on Thursday valuing the firm at $2.38 billion as investors looked past broader market jitters to back the company's capacity expansion plans and push into new regional markets.

The stock listed at 153.50 rupees on the National Stock Exchange, above its 147 rupees issue price and just above its targeted $2.3 billion. It was last up 2.7% at 151.06 rupees as of 10:21 a.m. IST.

India, the world's second-largest cement producer, is riding a robust sector outlook, with the government's infrastructure and housing push expected to power demand growth through the decade, while prices rebound from multi-year lows hit last fiscal year.

JSW Cement, with its seven plants in southern, eastern and western India, is a relatively smaller player in an industry dominated by companies such as Aditya Birla-owned UltraTech Cement ULTC.NS and Gautam Adani-backed Ambuja Cement ABUJ.NS.

The company will use proceeds from the IPO for setting up a factory in the limestone-rich state of Rajasthan, it said in its prospectus.

Ventura Securities said JSW Cement's capacity ramp-up will expand its reach and boost profits, while its ties to the JSW Group offer brand strength and easy access to raw materials like slag and power via group companies in steel JSTL.NS, energy JSWE.NS and marine infrastructure JSWN.NS.

JSW Group holds a nearly 70% stake in the cement maker.

The $413 million initial public offering was oversubscribed nearly eight times earlier this week, driven by institutional investors whose bids were nearly 16 times their allotted quota.

($1 = 87.4320 Indian rupees)

(Reporting by Hritam Mukherjee and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)

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** Shares of JSW Infrastructure Ltd JSWN.NS rise as much as 3.2% to 327.2 rupees

** Co reports a 31.5% y/y rise in first-quarter consol net profit to 3.85 billion rupees ($44.6 million), and revenue up 21.2%

** Motilal Oswal expects stronger market dominance for co and rising logistics revenue to drive 13% volume and 22% revenue CAGR over FY25–27; In line qtr, project expansion underway

** In Q1, co handled 29.4mt of cargo (+6% YoY) helped by new terminals of Tuticorin and JNPT - ICICI Securities

** Jefferies says Q1 EBITDA was in line with estimates; believes, on a small base JSWN's EBITDA growth will be 20%+ from current levels with group volumes giving comfort on utilisation; maintain BUY

** Mean rating of stock is "buy"; their median PT is 362.5 rupees - data compiled by LSEG

($1 = 86.3880 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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July 22 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JUNE-QUARTER CONSOL NET PROFIT 3.85 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 12.24 BILLION RUPEES

Source text: ID:nBSE25KFRB

Further company coverage: JSWN.NS

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** Shares of JSW Infrastructure JSWN.NS rise 1.7% to 310.20 rupees, set to snap four session losing streak

** Port operator gets letter of award from Syama Prasad Mookerjee Port Authority for reconstruction of berth-8 and mechanization of berth-7 and berth-8 at Netaji Subhas Dock in Kolkata

** Estimated capex of 7.4 bln rupees ($86.4 mln) and construction timeline of two years

** Project comes with 30‐year concession period

** JSWN down ~2% YTD

($1 = 85.6825 Indian rupees)

(Reporting by Vijay Malkar)

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July 7 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• RECEIVED LOA FOR RECONSTRUCTION FROM SYAMA PRASAD MOOKERJEE PORT AUTHORITY

• LOA TO DEVELOP CONTAINER BERTHS AT KOLKATA PORT

• ESTIMATED CAPEX OF 7.4 BILLION RUPEES, CONSTRUCTION TIMELINE OF TWO YEARS

• PROJECT COMES WITH A 30‐YEAR CONCESSION PERIOD

Source text: [ID:]

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June 19 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• SIGNING OF MEMORANDUM OF UNDERSTANDING WITH KONKAN RAILWAY CORPORATION

• PROJECT TO ESTABLISH RAILWAY ACCESS TO JAIGARH PORT

Source text: ID:nBSE5y9DzP

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May 20 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• SAJJAN JINDAL FAMILY TRUST SOLD 42 MILLION SHARES OF CO

• PROMOTER GROUP TRIMS STAKE IN CO FROM 85.62% TO 83.62%

Source text: ID:nBSE9w0jpG

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Recasts with company forecast

May 1 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS issued a higher year-on-year revenue growth forecast for fiscal 2026 on Thursday, citing strong port volumes, after posting a better-than-expected quarterly profit.

The country's top private port operator said it expects revenue to grow in the range of 15.8%-22.2% for the fiscal year that started on April 1. Its revenue grew 16% last fiscal.

For fiscal 2025, the firm's revenue from its ports business, its biggest, climbed 12%, while its logistics business jumped 39%, led by higher container and bulk cargo volumes, the company said.

It added that it expects revenue from its third-biggest marine services division, which surged 82% to 11.44 billion rupees in fiscal 2025, to treble in two years.

Private port operators including Adani Ports and smaller rival JSW Infrastructure JSWN.NS have benefited from steady cargo movement across Indian borders, especially during the fourth quarter, which typically sees increased construction activity due to favorable weather.

However, U.S. President Trump's erratic tariff policies have threatened to disrupt trade and pile additional risks on India's slowing economy.

On Wednesday, JSW Infrastructure reported a higher quarterly profit and shrugged off concerns over U.S. tariff-led trade uncertainties.

Adani Ports reported a consolidated net profit of 30.14 billion rupees ($356 million) for the quarter ended March 31, beating analysts' average estimate of 25.71 billion rupees, as per data compiled by LSEG.

Cargo volumes rose 8% to 118 million metric tonnes in the reported quarter, driving overall revenue nearly 24% higher to 84.88 billion rupees.

The company also forecast its earnings before interest, tax, depreciation and amortization (EBITDA) in the range of 210 billion-220 billion rupees for fiscal 2026.

($1 = 84.6740 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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April 30 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• LARGELY UNAFFECTED BY TRADE UNCERTAINTIES, MONITORING SITUATION CLOSELY

• REMAIN CONFIDENT OF NAVIGATING SAID UNCERTAINTIES

• SEE STEEL MARKETS DOING WELL AFTER IMPOSITION OF SAFEGUARD DUTY

Source text: [ID:]

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April 16 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRASTRUCTURE LTD - ISSUES 10 BILLION RUPEES COMMERCIAL PAPER

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Rewrites throughout with share moves, details and company forecast

Jan 30 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS missed third-quarter profit estimates on Thursday, as growth in cargo volumes slackened amid a slowdown in the world's fifth-largest economy, sending its shares 6% lower in the afternoon trade.

Consolidated net profit for the country's top private port operator jumped 14% to 25.20 billion rupees ($291.1 million) for the October-December period, but fell short of analysts' average estimate of 26.08 billion rupees, as per data compiled by LSEG.

Adani Ports' stock was among the top losers on the benchmark Nifty 50 index .NSEI.

Adani Ports kept intact its fiscal 2025 cargo volumes forecast in the range of 460 million metric tons to 480 million tons, after logging a 4% volume growth to 113 million tons in the reported quarter.

India's slowing economic growth has curbed cargo volumes at port operators including Adani Ports and smaller rival JSW Infrastructure JSWN.NS, analysts at ElaraCapital said in a note earlier this month.

Adani Ports also said it now expects fiscal 2025 core profit to be in a range of 188 billion rupees to 189 billion rupees, up from its earlier forecast of 170 billion rupees to 180 billion rupees.

($1 = 86.5620 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Rashmi Aich)

(([email protected]; X: @MukherjeeHritam;))

Adds CFO comments in paragraph 4

By Hritam Mukherjee

Jan 28 (Reuters) - JSW Infrastructure JSWN.NS, India's second-largest private port operator, missed third-quarter profit estimates on Tuesday as cargo volume growth slowed due to lower iron ore exports.

The company, which operates ten ports and terminals along the country's coastline, reported a consolidated net profit of 3.30 billion rupees ($38.1 million) for the October-December period, compared with the average analyst estimate of 3.40 billion rupees, according to data compiled by LSEG.

A decrease in volumes at its Paradip iron ore terminal in the state of Odisha capped JSW Infra's volume growth at 5% - lower than the past four quarters and also below brokerage ElaraCapital's 6% estimate.

Iron ore prices hit exports in the October-December period and the company expects volumes to rebound in the ongoing quarter, Chief Financial Officer Lalit Singhvi said on a post-earnings call.

India's slowing economic growth has curbed cargo volumes at port operators including JSW Infra and its bigger rival Adani Ports APSE.NS, ElaraCapital analysts said.

JSW Infra's third-quarter results are not comparable with the year-earlier figures as it completed the acquisition of logistics firm Navkar NAVR.NS in October, the company said.

The company said it gained 1.19 billion rupees in revenue and 55.1 million rupees in profit in the reported quarter from the acquisition.

($1 = 86.5150 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Eileen Soreng and Shounak Dasgupta)

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Jan 21 (Reuters) - Billionaire Sajjan Jindal-led JSW Group said on Tuesday that it will invest 3 trillion rupees ($34.67 billion) in the Indian state of Maharashtra to expand the conglomerate's presence in electric vehicles, batteries, steel, and green energy sectors.

The ports-to-cement JSW conglomerate and the government of the western Indian state of Maharashtra - home to the country's financial hub of Mumbai - signed an agreement on the sidelines of the World Economic Forum, in Davos, Switzerland.

The investment will fund facilities for electric vehicle and lithium-ion battery production, steel manufacturing expansion, and renewable energy projects, including solar modules.

State chief minister Devendra Fadnavis, in a post on social media platform X, said that the investment would create 10,000 jobs and provide a "huge boost to Maharashtra's industrial environment."

The Maharashtra government will offer fiscal incentives and expedite clearances for the group's projects as part of the agreement, JSW said.

($1 = 86.5400 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Tasim Zahid)

(([email protected]; X: @MukherjeeHritam;))

Jan 3 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRA - ENTERED INTO CONCESSION AGREEMENT WITH RAILWAY ADMINISTRATION

Source text: ID:nBSE65Szmb

Further company coverage: JSWN.NS

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** Shares of JSW Infrastructure JSWN.NS rise as much as 3.1% to 319.2 rupees

** Brokerage firm Motilal Oswal increases PT to 375 rupees, 21% higher than the last close; reiterates "buy" rating

** Co's capacity expansion to aid growth and is well-positioned to gain higher market share, surpass FY25 guidance - Brokerage

** Average rating of 11 analysts covering the stock is "buy" and median PT is 375 rupees, ~18% higher than current price - LSEG data

** Stock has more than doubled since listing on Oct. 3, 2023

** JSWN last up 2.8%, extending YTD gains to ~53%

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 19 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRA - AIMS TO EXPAND ITS CARGO-HANDLING CAPACITY TO 400 MTPA BY FY30

• JSW INFRASTRUCTURE - CAPEX ESTIMATED AT 300 BILLION RUPEES FOR FY25-30

Source text: ID:nBSE2ZQ0L

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Oct 28 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• SEPT-QUARTER CONSOL NET PROFIT 3.72 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 10.01 BILLION RUPEES

Source text: [ID:]

Further company coverage: JSWN.NS

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Oct 15 (Reuters) - An alert on JSW Infra JSWN.NS shares rising 2.3% after the company received a letter of intent for a port development contract has been withdrawn as the news is dated.

There will be no replacement alert.

Story number: nFWN3LQ176

Story date: Oct 15, 2024

Story time: 0348 GMT

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Oct 9 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRA - GOT LETTER OF INTENT FROM MAHARASHTRA MARITIME BOARD

• JSW INFRA - LETTER OF INTENT FOR DEVELOPMENT OF ALL WEATHER, MULTIPURPOSE PORT

• JSW INFRA - ROYALTY PAYABLE BASED ON PER METRIC TON TO BE ESCALATED IN BLOCK PERIOD OF 5 YEARS

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Oct 8 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• ARUN MAHESHWARI STEPPED DOWN AS JOINT MD, CEO

• RINKESH ROY NAMED AS JOINT MD, CEO

Source text for Eikon: ID:nBSE2b313Q

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Sept 23 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRA - TAKES DELIVERY OF DREDGER TO SUPPORT ITS EXPANSION PLANS

Source text for Eikon: ID:nBSEmqfGp

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Sept 16 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• EXPECTS 2.4X INCREASE IN OVERALL CAPACITY BY FY30

Source text for Eikon: [ID:]

Further company coverage: JSWN.NS

(Reporting by VijayDattaram Malkar)

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Sept 11 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• CLARIFICATION ON REPORT “JSW INFRA TO RAISE IN EXCESS 50 BILLION RUPEES VIA QIP"

• NO PROPOSAL FOR QIP PLACED FOR DISCUSSION BEFORE BOARD

Further company coverage: JSWN.NS

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Updates with details of the deal, context throughout

BENGALURU, Aug 30 (Reuters) - Adani Ports and Special Economic Zone APSE.NS said on Friday it will buy a majority stake in an offshore support vessel operator for $185 million, expanding its fleet and diversifying beyond port operations.

Astro Offshore, in which Adani Ports will buy an 80% stake, owns a fleet of 26 vessels including barges and workboats, counting miner NMDC NMDC.NS and construction bellwether Larsen and Toubro LART.NS as its customers.

"Astro will add... to our current fleet of 142 tugs and dredgers... (and) the acquisition will also give us access to an impressive roster of tier-1 customers," Adani Ports CEO Ashwani Gupta said in a statement.

The deal comes as India's largest private port operator aims to grow its presence beyond its mainstay port operations to maintain its sector lead against smaller rivals JSW Infrastructure JSWN.NS and Gujarat Pipavav GPPL.NS.

The acquisition is expected to close within a month with no requirement of regulatory approvals, Adani Ports added.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)

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Adds details and background throughout

BENGALURU, Aug 1 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS reported a 47% jump in quarterly profit on Thursday, as strong commercial activity in the world's fifth-largest economy lifted cargo volumes.

Shares of the Adani Group company were up 1.2% after the results, while the broader benchmark Nifty 50 .NSEI gained 0.2%.

India's largest private port operator by volumes, Adani Ports said its consolidated net profit rose to 31.13 billion rupees (nearly $372 million) in its fiscal first quarter ended June, from 21.15 billion rupees a year earlier.

Revenue increased by more than 11% to 69.56 billion rupees. This excludes the 6.03 billion rupees received from the divestment of the Ennore terminal in Tamil Nadu state.

Port operators have benefited from sustained cargo movement in and out of India, supported by healthy domestic demand and sturdy commercial activity in Asia's third-largest economy .

Cargo volumes handled by Adani Ports rose 7.5% in the June quarter to 109 million metric tons (MMT), despite a loss of 6 million metric tons (MMT) in April and May due to the shutdown of its Gangavaram port in Andhra Pradesh state.

Adani Ports had declared a force majeure at its Gangavaram port in April after agitation by certain section of employees disrupted cargo handling and other associated cargo operations.

The company, which is a part of billionaire Gautam Adani's ports-to-power conglomerate, operates 13 ports and terminals in India, including the country's largest container handling port in Mundra in the western state of Gujarat.

The Mundra port handled 17.6 MMT cargo in May, a record monthly volume for any Indian port.

Last month, smaller rival JSW Infrastructure JSWN.NS posted a lower quarterly profit due to higher expenses.

($1 = 83.7155 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu)

(([email protected]; X: @MukherjeeHritam;))

July 29 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• TO ENHANCE CARGO HANDLING CAPACITY TO 400MTPA BY FY2030 OR EARLIER

Source text for Eikon: [ID:]

Further company coverage: JSWN.NS

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** Shares of JSW Infrastructure JSWN.NS fall 3.8% to 323 rupees; set for worst day in over a month

** Port operator reports a ~9% decline in June-quarter consol net profit on higher expenses that jumped ~41%

** JSWN on track for third straight session of losses

** Avg rating of five analysts at "buy"; larger rival Adani Ports APSE.NS also rated "buy" on avg

** JSWN median PT at 282 rupees

** Stock up ~55% YTD compared with a ~45% rise in APSE

(Reporting by Dimpal Gulwani in Bengaluru)

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July 18 (Reuters) - JSW Infrastructure Ltd JSWN.NS:

• JSW INFRASTRUCTURE Q1 CONSOL NET PROFIT 2.92 BILLION RUPEES

• JSW INFRASTRUCTURE Q1 CONSOL REVENUE FROM OPERATIONS 10.10 BILLION RUPEES

Source text for Eikon: ID:nBSE6CW6NY

Further company coverage: JSWN.NS

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