Shares of JSW Energy, one of the leading power generation companies in India surged 4% on Wednesday after the company's board approved allotment of 1,750 Secured, Redeemable, Rated, Listed, Taxable, Non-Convertible Debentures (NCDs) of Rs 10,00,000 each aggregating to Rs 1,750 million.

JSW Energy on March 8 has inked a business transfer agreement with JSW Cement for the sale of 18 megawatt (MW) thermal power plant at Salboni, in West Bengal for Rs 956.7 million.

Shares of JSW Energy  are trading at Rs 86.90, up Rs 3.2, or 3.82%  at the Bombay Stock Exchange (BSE) on Wednesday at 12:12 p.m.

The scrip has touched an intra-day high of Rs 88.70 and low of Rs 84.50. The total volume of shares traded at the BSE is 534,084.In the earlier session, the shares declined 3.9%, or Rs 3.4, at Rs 83.70.

Currently, the stock is trading down  6% from its 52-week high of Rs 92.45  and above 150.07% over the 52-week low of Rs 34.75.