JSW Energy drops 4.5% after board approves re-organisation of renewable, thermal biz
NEW DELHI: Shares of JSW Energy NSE -4.76 % shed 4.5 per cent in Friday’s session after the company’s board said on Thursday that it has approved the re-organisation of renewable and thermal businesses.
The scrip fell to a low of Rs 305 as against the previous close of Rs 318.85 on the BSE.
The move to re-organise will result in all existing and upcoming renewable energy businesses being housed under an entity called ‘JSW Energy Neo Limited’, which will be a wholly owned subsidiary of the JSW, the company said in a statement.
The decision is in line with an announcement made by the company in July and the step is seen helping JSW to build and streamline its renewable portfolio
