Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

Buy Jindal Steel and Power; target of Rs 478: Motilal Oswal

Motilal Oswal is bullish on Jindal Steel and Power recommended buy rating on the stock with a target price of Rs 478 in its research report dated December 06, 2021.

December 07, 2021 / 01:19 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal's research report on Jindal Steel and Power


Near-term demand is tepid and demand decline is seen (especially last month) due to (a) the ban on construction in the NCR region due to severe pollution levels, (b) an extended monsoon, (c) weak sentiment in the international market - consumers are adopting the wait-and-watch policy, and (d) sufficient inventory lying with traders, who, in a falling market, would try and liquidate rather than accumulate. However, pent-up demand is inevitable, as seen since the ebbing of the first COVID wave.



Outlook


However, considering a) the long-term growth plan already under implementation (funded largely through internal accruals), b) the target to turn net debt zero by Mar'23 at the latest, and c) the mix towards flats improving the blended NSR substantially, we are positive on the stock and maintain a BUY rating.


For all recommendations report, click here

Close

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Dec 7, 2021 01:19 pm
Sections
ISO 27001 - BSI Assurance Mark