JSW Energy shares rise nearly 6%

https://preview.redd.it/mgiu7u5jfhke1.png?width=1280&format=png&auto=webp&s=97214e99967f18d6c0be4ed4f0465f53b5571bf4 https://preview.redd.it/yy7d2v5jfhke1.png?width=1280&format=png&auto=webp&s=d097d820e86d91d6ac38e027df3d11609de0dfb5 JSW Energy's stock surged nearly 6% to ₹500.25 after Morgan Stanley initiated coverage with an ‘overweight’ rating, citing strong market share gains and an expected 24% EBITDA CAGR from FY24-28. The company's renewable energy segment is projected to drive growth with a 52% EBITDA increase. Despite a 27% YoY decline in Q3 net profit to ₹168 crore and a 9% drop in EBITDA, JSW Energy continues expanding its green energy and thermal business. Its total operational capacity stands at 8.1 GW, with 6714 MW in the pipeline, of which 1848 MW will be operational by FY25. **Technically, the stock is bouncing from its 200-week EMA and has given a breakout of its divergence formation on the daily timeframe. However, to move further up, it needs to break the 40-day EMA. If it manages to do so, the next resistance is expected near ₹600, where the 40-week EMA is present.**