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Last Updated : Feb 18, 2019 02:10 PM IST | Source: Moneycontrol.com

Buy Jindal Steel and; Power; target of Rs 230: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Jindal Steel and; Power has recommended buy rating on the stock with a target price of Rs 230 in its research report dated February 05, 2019.

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Prabhudas Lilladher's research report on Jindal Steel & Power


Jindal steel & Power (JSP) reported Q3FY19 earnings in line with our estimates. Strong performance in domestic steel operations negated by weaker show in Jindal Power (JPL) and Oman steel operations. Domestic steel operation’s unitary EBITDA margins expanded 5% QoQ to Rs11,574 (PLe:Rs10,336), driven by better than expected realisations. Angul (BF +BoF) steel operations finally stabilized in January reaching 90% levels missing guidance by more than a year.


Outlook


We reiterate BUY with TP of Rs230, EV/EBITDA of 6.5x FY20e.


For all recommendations report, click here


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First Published on Feb 18, 2019 02:10 pm
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