Shares of Jindal Steel & Power Limited (JSPL) surged more than 2% after Antique maintained its Buy rating with a target price of ₹1,183, citing the company’s ambitious growth plans and robust financial health.
As per the brokerage, JSPL is on track to expand its crude steel-making capacity from 9.6 MTPA to 15.9 MTPA and finished steel capacity to 13.8 MTPA by FY27. Key projects like BF-II, BOF-II, ACPP-II, and a slurry pipeline are set for commissioning in the next two quarters. These developments support JSPL’s vision of building the world’s largest single-location steel-making complex in Angul, Odisha, by 2030.
The company has earmarked an investment of ₹310 billion through FY27, with ₹206 billion already deployed by 2QFY25. JSPL’s focus on high-margin products has paid off, with the share of value-added production rising to 53% in 2QFY25 (from 47% YoY).
Despite aggressive expansion, JSPL maintains a strong financial profile, with net debt-to-EBITDA at just 1.2x, showcasing its ability to fund growth without straining its balance sheet.
Jindal Steel shares opened at ₹925.00 today, reaching a high of ₹929.80 and a low of ₹883.35. The stock remains below its 52-week high of ₹1,097.00 but above its 52-week low of ₹685.05.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
