Why Jindal Steel is rising?
As recent as April 2022, Jindal Steel shares were trading at a 52 week high in the middle of a market selloff. Since the beginning of the year, JSPL shares had gained a 42%. The rise was primarily due to JSPL having won the tenders for three out of five coal blocks auctioned by the central government.
Is it good to buy Jindal Steel share today?
It reiterates positive view on JSPL with target price of Rs674 (earlier Rs659), rolling over to FY24 numbers. Its TP is based on 5.5x FY24E EV/EBITDA. Promoters held 60.44 per cent stake in the company as of 31-Dec-2021, while FIIs owned 8.93 per cent, DIIs 16.71 per cent.
Will Jindal Steel share price go up?
JindalSteel trend for this month is positive, which means JindalSteel target predictions on upside have a better chance. JindalSteel targets for this month are 419.41, 483.65 on the upside, and 336.29, 268.27 on the downside.
What is happening with Jindal Steel?
Jindal Steel and Power to set up India’s first rail wheelset manufacturing plant. A company statement said that JSPL has collaborated with GIFLO Steel – Hungary for this project. The MoU for technology collaboration has been signed between GIFLO Steel -Hungary and Jindal Steel on Friday in New Delhi.
Why are metal stocks falling today?
“Recent lockdowns in China due to surge of Covid-19 cases decreased demand of steel in the country and because major steel demand comes from china, decrease of demand led to crash of steel prices and ultimately fall in metal prices is leading to crashing of metal stocks,” said Mohit Nigam, Head – PMS, Hem Securities.
Is Jindal Steel good for long term?
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 long- …
Will JSW steel go up?
JswSteel trend for this month is negative, which means JswSteel target predictions on downside have a better chance. JswSteel targets for this month are 606.38, 843.41 on the upside, and 496.13, 424.46 on the downside.
Why is the steel market down?
Steel prices cool down after levy of export duty Prices of domestic benchmark hot-rolled coil (HRC) steel at the traders’ end have slipped by about 8% or ₹5,500 to about ₹63,800 per tonne since May 18, according to SteelMint, a market intelligence agency.
Are steel prices coming down?
Will steel prices go down in 2021? Steel prices are extreme and should decline from late second quarter through the end of 2021. Locking now will mean over-paying over the second half of the year.
Which is better Tata or JSW?
JSW Steel is leading in terms of high operating profit margin indicating its operating efficiency. It is also leading in terms of net profit margin with a five-year average of 7.9% compared to 4.1% of Tata Steel.
What are some steel stocks to buy?
| Steel Stocks with the Most Momentum | ||
|---|---|---|
| Nucor Corp. (NUE) | 135.52 | 98.5 |
| TimkenSteel Corp. (TMST) | 19.96 | 85.0 |
| Stelco Holdings Inc. (STLC.TO) | 47.42 | 79.3 |
| Russell 1,000 | N/A | 5.9 |
Is JSW Energy a good buy?
Is JSW Energy Ltd a good quality company? Past 10 year’s financial track record analysis by Moneyworks4me indicates that JSW Energy Ltd is a average quality company.
What will be the share price of JSW Steel in 2025?
JSW Steel Share Price Target
| Year | Target Of JSW Steel |
|---|---|
| (Target-2) | Rs.1423 |
| 2024(Target-1) | Rs.1611 |
| (Target-2) | Rs.1836 |
| 2025(Target-1) | Rs.2080 |
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