JSW Steel: Aggressive capex, firm steel cycle ahead, but is it a good buy?
The performance of JSW's Indian subsidiaries, including joint ventures, improved across the board while foreign arms continued with their sub-par performance
May 24, 2021 / 11:20 AM IST
Jindal Steel & Power | Sarda Mines Private Limited bought 52,74,600 equity shares in Jindal Steel at Rs 431.62 per share on the BSE, the bulk deals data showed.
JSW Steel’s (JSW; CMP: Rs 698; Market Capitalisation: Rs 1,68,674 crore) March quarter results were marginally above Street expectations on the back of improved performance from subsidiaries.
March 2021 quarter performance
Strong domestic demand, along with exports, and improved steel prices led to this superlative performance. During the March 2021 quarter, JSW operated at 93 per cent capacity against 91 per cent in the December 2020 quarter.
JSW witnessed higher iron ore and coking coal prices while power and fuel costs...