Sameet believes traders can find ample opportunities in the beaten spaces and for investors, this decline would provide opportunity to accumulate quality stocks in a staggered manner.
The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said at the PLI Scheme for Specialty Steel MoU signing event.
The selling seen in the metal stocks is on the back of a fall in global base metal prices.
Motilal Oswal Financial Services has maintained its ‘neutral’ rating on JSW Steel stock with a target price of Rs 710.
Motilal Oswal recommended Neutral rating on JSW Steel with a target price of Rs 710 in its research report dated March 13, 2023.
It has 21 buy calls and zero sell or hold calls, indicating 100 percent optimism on Moneycontrol’s Analyst Call Tracker for February
Withering sentiment among retail investors and FIIs moving to China added to the woes for Indian equities in February but analysts continue to be upbeat about some stocks, take a look
JSW Steel is expected to remain sideways within our range. An Iron Condor trade to capitalise.
The company's crude steel production was at 16.46 lakh tonnes (LT) in January 2022, JSW Steel said in a regulatory filing.
A steep valuation and an industry slowdown were the biggest reasons for downgrades.
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Bajaj Finserv, Bajaj Finance and Bajaj Auto saw the highest upgrades over the past quarter.
Out of the 32 brokerages covering JSW Steel, 26 of them had a "sell" or "hold" rating, with high valuations of the stock remaining a concern
Out of the 10 stocks that analysts were most optimistic about, 5 came from the financial space.
The demand pertains to allegations over a drop in the grade of iron ore at the Joda and Koira mines during FY22 and the current FY23, compared to the submitted mining plan
JSW Steel has given bearish breakout from the Head and Shoulder pattern on the daily chart. It has breached crucial supports of 50 and 100-day EMA. Indicators and oscillators like RSI and MACD have turned bearish on the daily charts.
ICICI Direct recommended hold rating on JSW Steel with a target price of Rs 825 in its research report dated January 21, 2023.
Motilal Oswal recommended Neutral rating on JSW Steel with a target price of Rs 710 in its research report dated January 21, 2023.
JSW Steel reported a consolidated net profit of Rs 474 crore for Q3FY23 -- a 90 percent dip, YoY. Sequentially, the company is back in the black, after posting a loss of Rs 915 crore.
JSW Steel is a play on volumes as nearly more than 6 million tonnes of incremental capacity is likely to be commissioned in the next one year.
"Next year may not be as volatile as current financial year," said Seshagiri Rao, joint managing director and group chief financial officer (CFO) for JSW Steel, commenting on how domestic steel prices are looking up in India and demand is very robust. Rao also speaks about capital expenditure plans, scouting for coal mines and releasing steel inventory.
Banking stocks are to be in the limelight after leading names from the sector reported their Q3 earnings over the weekend. The bears still seem to have the upper hand. Moneycontrol's Santosh Nair decodes the earnings of private banks. Other stocks in focus include JSW Steel & SBI Life