ICICI Direct has given Hold recommendation for JSW Steel with a target price of Rs. 600 in its research report issued on Oct 22, 2022
ICICI Direct’s research report on JSW Steel
JSW Steel is one of the leading integrated steel companies in India. It has a strategic collaboration with global leader JFE Steel of Japan, enabling JSW to access new and state-of-the art technologies to produce and offer high value special steel products to its customers. JSW Steel’s manufacturing unit in Vijayanagar, Karnataka is the largest single location steel-producing facility in India with a capacity of 12 MTPA • JSW Steel is the only Indian steel company to be ranked among the top 15 global steel producers by World Steel Dynamics for 13 consecutive years.
Outlook
We maintain our HOLD rating on the stock. We value JSW Steel at Rs 600, 6x FY24E EV/EBITDA.