Buy Jindal Stainless: target of Rs 230: ICICI Securities
ICICI Securities is bullish on Jindal Stainless recommended buy rating on the stock with a target price of Rs 230 in its research report dated September 23, 2021.
September 23, 2021 / 10:29 AM IST
ICICI Securities research report on Jindal Stainless
We hosted the management of Jindal Stainless (JSL). Management clarified the company’s product level strategy underlining the resurgence in demand that the 400 series sees in India. Expansion from 1.9mtpa to 2.9mtpa stays on track. Existing capacity will lead to 15-20% volume growth in FY22. Management pointed at its continued focus on deleveraging and guided for start of dividend payout as merger between JSL and Jindal Stainless (Hissar) (JSHL) concludes, likely in the near term.
Maintain BUY with a target price of Rs230/share.
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