JSW Holdings Ltd shares extended their strong upward run for the fourth consecutive session in Monday's trade. The stock soared 10 per cent to hit an all-time high value of Rs 16,965.85. At this price, it has ascended by 70.48 per cent in four trading days. On a year-to-date (YTD) basis, the scrip has given multibagger returns to investors by rallying 228.18 per cent.
Bourses BSE and NSE have put the securities of JSW Holdings under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
In addition, exchanges today sought clarification from the small-cap investment company over the share price movement. "The Exchange has sought clarification from JSW Holdings Ltd on November 11, 2024, with reference to Movement in Volume. The reply is awaited," they stated.
The shadow lender, in response, said, "The shares of the Company are freely tradeable and the trading volume is purely market driven. As such the Company is not in a position to comment on the same."
Around 2,414 shares changed hands on BSE today. The figure was lower than the two-week average volume of 3,830 shares. Turnover on the counter came at Rs 4.03 crore, commanding a market capitalisation (m-cap) of Rs 18,831.46 crore.
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The scrip's 14-day relative strength index (RSI) came at 60.08. A level below 30 is defined as oversold while a value above 70 is considered overbought.
According to BSE data, the company's stock has a price-to-equity (P/E) ratio of 98.47 against a price-to-book (P/B) value of 0.54. Earnings per share (EPS) stood at 156.64 with a return on equity (RoE) of 0.55.
On the earnings front, the company's consolidated net profit jumped 89.30 per cent to Rs 119.64 crore in the quarter ended September 2024 (Q2 FY25) as against Rs 63.20 crore during the year-ago period. During the quarter under review, revenue from operations surged 81.88 per cent to Rs 162.18 crore from Rs 89.17 crore during the corresponding period last year.
JSW Holding is the investment arm of the JSW Group. As of September 2024, promoters held a 66.29 per cent stake in the non-banking financial company (NBFC).