JSL Stainless has target of Rs 90: Thununguntla

JSL Stainless has target of Rs 90, says Jagannadham Thununguntla, Head of Research, SMC Global.

Thununguntla told CNBC-TV18, "JSL Stainless has target of Rs 90. The stock has picked up as its India's largest  integrated steel manufacturer and also the company has got a power purchase agreement signed for its 1,320 mw." He further added, "The company is doing well. Off-late there were some challenges in terms of its profitability and  margins but the company is upgrading it, scaling its performance back and also produces a wide variety of stainless  steel and has global reputation for its 200 series of stainless steel."