JSW Energy has moved higher by 8% to Rs 44.25 on reports that the company may get a go-ahead from the Maharashtra Electricity Regulatory Commission (MERC) to sell power to its group company - JSW Ispat by the year end.
The discussion in MERC is underway and the committee is likely to give its approval by December-end, the newspaper reports suggest.
JSW Energy, the JSW Group’s power arm, which currently runs a 3X300 mw (1,200 mw) power plant at Ratnagiri in Maharashtra. The plant is running for the last five months and can start supplying power from the day it gets the nod, added report.
A combined volume of 1.02 million shares have changed hands on the counter so far on the NSE and the BSE.