JSW Energy gains 9% as Moody's, Fitch assign credit ratings to arm notes

Shares of JSW Energy hit a fresh 52-week high of Rs 120.35, up 9 per cent on the BSE, in the intra-day trade on Wednesday on the back of a two-fold jump in trading volumes after global rating agencies Moody's Investors Service and Fitch Ratings assigned long-term ratings to the JSW Energy's wholly-owned subsidiary, JSW Hydro Energy Limited with stable outlook. The rating has been assigned to JSW Hydro Energy Limited's proposed US-dollar senior secured notes due 2031.

The stock of the electric utilities company surpassed its previous high of Rs 116 touched on May 4. Menawhile it had