Given company’s relatively cheaper valuation versus peers, expectations for good growth in the medium term given recovery in Indian economy and infra push; balanced with expectaions of moderation in commodity prices from current levels, the risk-reward appears balanced for the stock and we recommend a hold on the stock.
Full Answer
Will Jindal steel share price go up?
Tomorrow's movement Prediction of Jindal Steel & Power Limited JINDALSTEL as on 21 Apr 2022 appears strongly Bearish....Munafa value: 20 as on 21 Thu Apr 2022.Downside target504.72Upside target543.15Upside target550.05Upside target556.65Upside target559.385 more rows
Why is Jindal steel rising?
JSPL sources significant portion of coking coal requirement from its own mines and this places it in a relatively better position amid the rage in steel prices driven by the ongoing Russia-Ukraine war.Mar 25, 2022
Why steel stocks are falling?
India's steel stocks declined after analysts downgraded the mills citing falling prices of the alloy and high raw material costs. Jefferies downgraded Tata Steel Ltd. and JSW Steel Ltd. from 'buy' to 'hold' and 'underperform', respectively.Jan 11, 2022
What is PE ratio of Jindal steel?
The Current P/E Ratio of Jindal Steel & Power is 16.03.
What stock should I buy today?
Sumeet Bagadia's day trading stocks1] Adani Ports: Buy at CMP, target ₹900, stop loss ₹850.2] Asian Paints: Buy at CMP, target ₹3225 to ₹3300, stop loss ₹3080.3] Action Construction Equipment or ACE: Buy at CMP, target ₹256, stop loss ₹230.4] OnMobile Global: Buy around ₹175, target ₹195, stop loss ₹165.More items...•3 hours ago
Which share to buy now?
Stocks to Buy Today: Best Shares to Buy in IndiaNameLTPLowBajaj Finserv15,835.7515,593Bharti Airtel735.75730Britannia Inds.3,359.903,274Cipla998.5599711 more rows
Should I invest in steel stocks?
Mumbai: Production cuts in China, reduction in leverage, increasing profitability and a sharp correction in stock prices in the past three months make Indian steel stocks a good buy, according to analysts who recommend stocks such as Jindal Steel, JSW Steel, SAIL, Tata Steel and NMDC for a decent return in the mid- to ...Jan 5, 2022
Is steel a good stock to buy?
Summary. U.S. Steel was immensely profitable in 2021 and will most likely have a very strong 2022 as well. Investors will benefit from huge shareholder returns this year, as X cleaned up its balance sheet a lot last year.Feb 14, 2022
Why are steel stocks going up?
Steel prices in India and worldwide are rising amid the Russia-Ukraine war as well as the increase in oil and coal prices. This scenario has given India an excellent opportunity to increase its steel exports to European and the Middle East.Mar 14, 2022
Is Jindal Steel good for intraday?
Currently Jindal Steel is trading lower than yesterday, which is not good for the stock. Intraday sentiment of Jindal Steel is more or less neutral. Taking an intra day trade in this stock is not recommended for today.
Is Jindal Steel a good company?
Jindal Steel and Power limited is a very nice firm, with great working culture. Learned a lot under the guidance of the management. very supportive and cooperative co-workers.
Is Jindal Steel and JSW same?
JSW Steel Ltd. JSW's history can be traced back to 1982, when the Jindal Group acquired Piramal Steel Limited, which operated a mini steel mill at Tarapur in Maharashtra and renamed it as Jindal Iron and Steel Company (JISCO).
What is JSPL share price and what are the returns for JSPL share?
JSPL share price was Rs 435.75 as on 04 Mar, 2022, 03:59 PM IST. JSPL share price was down by 2.10% based on previous share price of Rs 444.15. JSP...
Who are the peers for JSPL in Metals - Ferrous sector?
Top 10 Peers for JSPL are Steel Authority of India (SAIL) Ltd., Technocraft Industries (India) Ltd., Steel Exchange India Ltd., Gallantt Ispat Ltd....
What are the key metrics to analyse JSPL Share Price?
Key Metrics for JSPL are: PE Ratio of JSPL is 6.88 Earning per share of JSPL is 63.33 Price/Sales ratio of JSPL is 0.90 Price to Book ratio of JSPL...
What is the recommendation for JSPL - Buy or Sell?
As per Refinitiv (erstwhile Thomson Reuters), overall mean recommendation by 24 analysts for JSPL stock is to Strong Buy. Recommendation breakup is...
What's the market capitalization of JSPL?
Market Capitalization of JSPL stock is Rs 44,450.34 Cr.
What has been highest price of JSPL share in last 52 weeks?
JSPL share price saw a 52 week high of Rs 501.70 and 52 week low of Rs 296.70.
Who owns JSPL?
Promoter holding have gone down from 60.47 (31 Mar 2021) to 60.44 (31 Dec 2021) Domestic Institutional Investors holding has gone up from 16.49 (31...
About JSPL
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 42,405.06 Crore) operating in Metals - Ferrous sector. Jindal Steel & Power Ltd. key Products/Revenue Segments include Iron & Steel Items, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2020.
JSPL Share Price Update
Jindal Steel & Power Ltd. share price moved up by 1.97 % from its previous close of Rs 407.65. Jindal Steel & Power Ltd. stock last traded price is 415.70
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Slowdown in domestic construction activities, adverse weather conditions cited as reasons
The April sales of Jindal Steel & Power Ltd (JSPL) declined by a steep 29 per cent on a month-on-month basis to 5.59 lakh tonnes of steel, the firm said on Tuesday. Sales during May fell by another 11 per cent on a month-on-month basis to 4.99 lakh tonnes, JSPL said in a statement.
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Steel production
The production of steel during April fell by 6 per cent on a month-on-month basis to 6.81 lakh tonnes. Production during May picked up slightly to 6.9 lakh tonnes, JSPL said.