JSW Hydro Energy Ltd updates on writ petition

JSW Hydro Energy Limited, a material step-down wholly owned subsidiary has filed a writ petition before the Hon'ble High Court of Himachal Pradesh, for quashing of the Himachal Pradesh Water Cess on Hydropower Generation Act, 2023, having a likely financial bearing of Rs. 199 crores.

The Hon'ble High Court of Himachal Pradesh vide Judgment dated 5th March, 2024, has held, that the provisions of the Himachal Pradesh Water Cess on Hydropower Electricity Generation Act, 2023, and Rules framed thereunder, are declared to be beyond the legislative competence of the State Government in terms of Articles 246 and 265 of the Constitution of India and, thus, ultra vires the Constitution and accordingly quashed and set aside the same.

Shares of JSW Energy Limited was last trading in BSE at Rs. 511.95 as compared to the previous close of Rs. 509.35. The total number of shares traded during the day was 68525 in over 2211 trades.

The stock hit an intraday high of Rs. 516.55 and intraday low of 494.50. The net turnover during the day was Rs. 34565058.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWHydroEnergy