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Buy Jindal Stainless Hisar; target of Rs 390: ICICI Direct

ICICI Direct is bullish on Jindal Stainless Hisar has recommended buy rating on the stock with a target price of Rs 390 in its research report dated August 02, 2021.

August 05, 2021 / 09:53 AM IST
 
 
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ICICI Direct's research report on Jindal Stainless Hisar

Jindal Stainless (Hisar) (JSHL) is one of the leading players in the Indian stainless steel market with its manufacturing facility located in Hisar, Haryana with an installed capacity of 0.8 million tonnes per annum (MTPA). JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio JSHL is the world's largest producer of SS strips for razor blades and India's largest producer of coin blanks

Outlook

We maintain our BUY rating on the stock We value JSHL at Rs 390, based on merger ratio.