Prabhudas Lilladher Recommends 'BUY' on JSW Infrastructure; Target Rs 339

• JSW Infrastructure reported in-line operating performance for Q3FY26 with 7.8% YoY volume growth.
• Logistics business showed robust growth, driven by Navkar's turnaround and strong EXIM/domestic volumes.
• Port Net Sales Realization (NSR) declined 3.9% QoQ due to higher volumes from lower-priced terminals.
• Overall cargo volume growth was supported by South West Port, Dharamtar, Tuticorin, and JNPA liquid terminal.
• Prabhudas Lilladher maintains a 'BUY' rating with a revised target price of Rs 339, valuing it at 21x EV of September 2027E EBITDA.

Why It Matters: Prabhudas Lilladher recommends buying JSW Infrastructure, citing strong logistics growth and a revised target of Rs 339.