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    HomeNewsBusinessMarketsAccumulate JSW Steel, target Rs 435: Soumen Chatterjee

    Accumulate JSW Steel, target Rs 435: Soumen Chatterjee

    We maintain our accumulate rating with a target price of Rs 435 per share, says Soumen Chatterjee of Guiness Securities.

    Moneycontrol News
    June 20, 2018 / 13:50 IST

    Soumen Chatterjee

    JSW Steel is trading at 12.5 times its trailing earnings (down from 15-16 times a few months back) with robust RoE of 22 percent. The management expects steel demand to grow at 7-7.5 percent in FY19.

    We expect margins to improve in FY19, if steel prices remain rangebound. We maintain our accumulate rating with a target price of Rs 435 per share (discounting the stock to trade at 15 times FY19e earnings of Rs 29 per share).

    Disclaimer: The author is Director Research at Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Jun 20, 2018 01:50 pm

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