Moneycontrol PRO
Access insightful & curated financial content with Moneycontrol PRO at just Re. 1/- per day. Use code PRO365.
you are here: HomeNewsBusiness

Accumulate JSW Steel; target of Rs 810: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on JSW Steel with a target price of Rs 810 in its research report dated October 21, 2021.

October 26, 2021 / 11:10 AM IST
  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on JSW Steel

Steel (JSTL) reported Q2FY22 EBITDA in-line with our and consensus estimates. Domestic steel margins impacted due to lower realisations and higher costs. Lower earnings in standalone were offset by better performance in subsidiaries. Sentiments on Chinese demand turned negative across the major steel consuming sectors. While, the impact of lower demand has been equally negated by stringent curbs on production. Given the restricted supplies of Chinese steel in its domestic and exports markets, global steel prices are expected to remain elevated further supported by all-time high coking coal prices. As expected, margins were expected to soften due to unsustainable coking coal prices. Nevertheless, margins are significantly above historical averages by ~30% in spite of astronomical input prices. Led by favorable business dynamics and strong outlook on volume growth,


we maintain Accumulate rating with TP of Rs 810 based on EV/EBITDA of 6.5x FY23e.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 26, 2021 11:10 am

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark