JSW Energy Ltd is the first Independent Power Producer in Karnataka, India. The Company produces 3,140 MW power and is implementing another 8,630 MW capacity.
The government has accorded environmental clearance for the expansion from 3 MTPA to 3.75 MTPA to the company's Kapurdi Mines in Rajasthan.
The government has also cleared mining capacity expansion to 7 MTPA, adding that the possession of land for Jalipa mines (Rajasthan) is in progress. The total project cost is estimated at Rs1,800cr (both Kapurdi and Jalipa mines).
After prolong consolidation phase, JSW Energy witnessed an upside breakout from the broader range of 37-70 level in May, 2014.
Also, it crossed major resistance barrier of 200 EMA on the weekly chart with noticeable rise in volume, confirming that break.
In line with recent correction across the board, it has also retraced from its high and retesting the upper band of consolidation range. One can utilize this opportunity to create fresh long positions between 66-CMP(70.45) with closing below stop loss of 58 level for the target of 96 levels.