Motilal Oswal Financial Services (MOFSL) has reiterated its Buy rating on JSW Steel’s share price, setting a target price of ₹1,150 per share, which implies an 18% upside from the current market price (CMP) of ₹977.70.
The brokerage remains positive on JSW Steel’s long-term growth prospects, highlighting the company’s strong cash flow generation, which can be utilized for funding expansion plans and reducing debt. MOFSL also noted that JSW Steel remains on track to achieve a 50 million tonnes per annum (MTPA) capacity by FY31, underscoring its aggressive growth strategy.
However, in the near term, muted steel pricing remains a headwind, potentially impacting margins and realizations. Despite this challenge, MOFSL expects JSW Steel to navigate market fluctuations effectively, leveraging its strong balance sheet and expansion roadmap.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a professional advisor before making investment decisions.
