Shares of JSW Steel traded slightly higher on Friday, rising 0.25% to Rs 1,175 as of 10:06 AM on October 17, ahead of the company’s second-quarter earnings announcement. The stock opened at Rs 1,168 and touched an intraday high of Rs 1,176, compared to the previous close of Rs 1,172.10. The company’s market capitalization currently stands at Rs 2.87 lakh crore.
According to a preview by brokerage estimates, JSW Steel’s profit is expected to fall 21% year-on-year to Rs 1,727 crore for the September quarter, while revenue may rise 2% to Rs 44,171 crore. EBITDA is projected to decline 8%, with margins contracting by 184 basis points. The company continues to face pressure from weaker steel price realizations, although domestic demand remains strong.
Brokerages including Bank of America, Morgan Stanley, and Jefferies maintain positive ratings on the stock, while ICICI Securities has taken a more cautious stance. Jefferies expects net sales to rise 11% year-on-year to Rs 43,900 crore, supported by new capacity additions. Analysts believe India’s steel consumption will continue to grow steadily, but margins could remain under pressure due to lower realizations and elevated input costs.
The Q2 FY26 earnings season also features results from major companies such as Reliance Industries, Hindustan Zinc, Polycab India, Dixon Technologies, REC, Havells India, Oracle Financial Services Software, AU Small Finance Bank, and Bank of India.
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