Buy JSW Steel, target price of 
731
Bangalore: Reliance Money has recommended a buy rating on JSW Steel with a target price of 
731 in its research report. According to Reliance Money, JSW Steel's quarterly results were in line with their expectations and other income component of 2414 million through forex gains due to the favorable movements of the exchange rates were the factors behind this recommendation.
JSW Steel posted a net Sales Revenue of 38.9 billion up by six percent year on year (YoY), an earnings before interest, taxes, depreciation and amortization (EBIDTA) of 7.2 billion (a rise of 14 percent (YoY) and PAT of 3.4 billion, a growth of 55 percent (YoY). The EBIDTA margins expanded by 135 basis points (bps) to 18.6 percent in the last quarter. With the recommended target price, if the stock is bought at Thursday's closing price of 619.80, the percentage of gain would be 17.94. The 52-week stock price chart is on the left.
JSW Steel is engaged in the production and distribution of iron and steel products. The Company, through its subsidiaries, is engaged in acquisition and investment in steel related and steel allied businesses. Recently, the company announced that it will start mining at a 100-million-tonne iron ore deposit in Karnataka by October this year.
731 in its research report. According to Reliance Money, JSW Steel's quarterly results were in line with their expectations and other income component of 2414 million through forex gains due to the favorable movements of the exchange rates were the factors behind this recommendation.
JSW Steel posted a net Sales Revenue of 38.9 billion up by six percent year on year (YoY), an earnings before interest, taxes, depreciation and amortization (EBIDTA) of 7.2 billion (a rise of 14 percent (YoY) and PAT of 3.4 billion, a growth of 55 percent (YoY). The EBIDTA margins expanded by 135 basis points (bps) to 18.6 percent in the last quarter. With the recommended target price, if the stock is bought at Thursday's closing price of 619.80, the percentage of gain would be 17.94. The 52-week stock price chart is on the left.
JSW Steel is engaged in the production and distribution of iron and steel products. The Company, through its subsidiaries, is engaged in acquisition and investment in steel related and steel allied businesses. Recently, the company announced that it will start mining at a 100-million-tonne iron ore deposit in Karnataka by October this year.