JSW Steel share price: Jefferies says BUY, pegs price target at Rs 820
JSW Steel share price: Jefferies says that JSW Steel’s 4Q EBITDA rose 42% QoQ (+184% YoY), 13% above Jefferies, led by better-than expected realizations. EBITDA/t expanded 37% QoQ to Rs19.8K. Asian steel prices remain strong despite some recent correction; Indian spot HRC price is 20% above 4Q average and still at a discount to imports. Jefferies expects JSW Steel's margins to rise further in Jun-Q but factor in normalization in the remainder of FY22. Jefferies raise FY22-23E EPS by 44-68% and retain Buy with a revised Rs 820 price target
JSW Steel's iron ore cost should rise further in coming quarters on higher market prices and rising share of captive mines: Reuters