HSBC downgraded JSW Infrastructure to Reduce from Hold with target price of Rs 310, citing limited room for execution risk after the rally; panelists discussed buy levels and chart support

Wed 7 Oct 2026

HSBC target price

Rs 310

Stock rally since QIP

20 percent

Buy level advised

below 330

Support/resistance zone

340 to 345

Further support level

310

Heard on business television between 08:52:10 - 08:55:10 IST.

• HSBC cut rating to Reduce from Hold, target price Rs 310, saying the rally leaves little room for execution risk.
• HSBC noted CAPEX-led growth could dilute ROIC and increase execution risk; FY27-29 EBITDA estimates cut 4-7%.
• HSBC prefers Adani Ports for superior ROIC and valuation versus JSW Infra.
• A panelist said they had recommended buying around Rs 300 during the QIP and the stock has since risen 20%; advised waiting for correction, with FY28 earnings (slurry pipeline to JSW Odisha plant) as the key driver, buying below Rs 330.
• Chart analyst (Kush) noted RSI negative divergence on weekly chart; said holding above 340-345 keeps rally intact, below that supports at 310; advised holding with trailing stop loss.

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