JSW Energy jumps nearly 2 per cent on acquisition of JSW Electric

JSW Energy has acquired JSW Electric Vehicles Private Limited in-line with its focus to venture into the Electric Vehicles, Energy Storage Systems and associated businesses.

This acquisition is part of diversification strategy of JSW Energy Limited to venture into Electric Vehicles, Energy Storage Systems and Charging Infrastructure directly or through one or more subsidiaries.

JSW Electric Vehicles Private Limited will manufacture electric motor vehicles, all types of parts, spare parts, engines, appliances and equipment. Its business is yet to commence and it is having existence only in India.

Today, the stock of JSW Energy opened at Rs. 81.25 per share, almost 2 per cent up from its Monday’s closing of Rs. 79.40 and touched an intra-day high of Rs. 81.70, on the BSE.