JSW Steel becomes the most valuable steel company in the world

JSW Steel has now become the most valuable steel company in the world by market capitalization as its shares surged 18% so far this year.

The steel maker has overthrown other steel makers including ArcelorMittal and Nippon Steel as its market capitalization stands at Rs 2.6 lakh crore.

The company operates integrated steel plants in Vijayanagar, Dolvi, and Salem, along with overseas operations in the United States and Italy. It currently has a manufacturing capacity of 35.7 million tonnes (MT) and looks to increase this to 43.5 MT by FY28 and 51.5 MT by FY31.

The company’s portfolio includes flat and long steel products for various sectors such as automotive, construction, and consumer durables.

Meanwhile, brokerage firm Investec has issued a "buy" rating on JSW Steel with a price target of ₹1,100 per share due to its growth prospects and return ratio profile.

Additionally, out of the 35 analysts that have covered JSW Steel, 20 of them issued a "buy" call on the stock, five issued a "hold" call, while 10 of them have a "sell" rating.

Shares of JSW Steel are currently trading at Rs 1,059.80 and are trading close to their 52-week high of ₹1,072.

The flagship company of the JSW Group operates integrated steel plants in Vijayanagar, Dolvi, and Salem, along with overseas operations in the United States and Italy. It currently has a steelmaking capacity of 35.7 million tonnes (MT) and aims to increase this to 43.5 MT by FY28 and 51.5 MT by FY31.