JSW Steel is amongst the world’s largest steel producer which has largely expanded organically. Post Covid industry trends have improved significantly due to sharp rise in global steel prices driven by lower Chinese exports and better domestic market. Raw material security, as a few of its iron ore mines have become operational, will be margins accretive as also brownfield expansions at low capital cost. Recent government measures to open mining sector particularly, coal mining are long term positive. Acquisitions of Monnet and Bhushan Steel if and when they are consummated and turned around could increase profits in the medium term. We have an over weight rating due strong near term performance and sustainable price trends in the global steel industry due to increased infra spends – 28-07-2021 Price: 721.55 Rating: Over Weight Recommendation : Buy
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