Synopsis: Domestic brokerage Motilal Oswal Financial Services (MOFSL) has reiterated its bullish stance on JSW Infrastructure Limited, maintaining a ‘Buy’ rating with a target price of ₹360. Despite a volatile broader market on Friday, March 13, 2026, analysts remain confident in the company’s port-led growth strategy, aggressive capacity expansion, and the scaling of its multimodal logistics business.

JSW Infrastructure Buy Target Motilal Oswal: ₹360 & 39% Upside

At the current market price of approximately ₹259, the target suggests a potential upside of nearly 39%.

While the Nifty has faced pressure due to global energy concerns, JSW Infrastructure is being viewed as a long-term structural play on India’s maritime ambitions and the “Atmanirbhar” push for efficient logistics.

The Rationale: Why Analysts Are Bullish on JSW Infra

Motilal Oswal’s conviction stems from the company’s “East-West” coast balance and its transition from a pure port operator to an integrated logistics giant.

• Strategic Capacity Expansion: The company is on track to scale its port capacity from the current 177 MTPA to 400 MTPA by FY30. Key projects, including the recently commissioned JNPA Liquid Terminal and upgrades at Mangalore and Jaigarh, are expected to drive volume growth starting FY27.
• Logistics Scale-up: Following the acquisition of Navkar Corporation, JSW Infra is building a pan-India multimodal network. The brokerage expects logistics revenue to hit ₹8,000 crore by FY30 with healthy 25% EBITDA margins.
• Third-Party Cargo Growth: The company has successfully reduced its reliance on group business, with third-party cargo now contributing nearly 49% of total volumes, up from just 25% three years ago.

Financial Projections & Valuation

Motilal Oswal values the stock based on a 16x FY28E EV/EBITDA multiple. The analysts expect a robust financial trajectory over the next three years:

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Market Performance (March 13, 2026, as of writing)

While the broader market witnessed “Friday the 13th” jitters with the Nifty falling over 1%, JSW Infrastructure showed relative resilience in early trade.

• Current Market Price (CMP): ₹259.00
• 52-Week High / Low: ₹349.00 / ₹241.00
• Market Cap: ~₹54,500 Crore
• Recent News: On March 10, the company’s subsidiary commenced interim operations at a new brownfield rail siding in Kudathini, Karnataka, further strengthening its inland connectivity.

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