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'Buy' Jindal Stainless Maintains ICICI Securities But Lowers Target Price — Here's Why
On the RoE front, while the Jindal Stainless stock is likely to clock better returns compared to peers, the valuation gap compared to carbon steel players has narrowed, says ICICI Securities.
25 Mar 2025, 10:47 AM IST 
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Jindal Stainless is currently trading at P/E (2-year forward) of 10.9x, almost 24% lower than its highest level in the past five years.
(Photo: Jindal Stainless website)
Jindal Stainless is currently trading at P/E (2-year forward) of 10.9x, almost 24% lower than its highest level in the past five years. This is on the back of RoE (two-year forward) estimate coming off 17%.
