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'Buy' JSW Steel Maintains HDFC Securities — Here's Why
HDFC Securities maintains Buy rating on JSW Steel with an unchanged target price of Rs 1,080/share.
19 Mar 2025, 10:11 AM IST 
With the ramp-up of its recently-commissioned Vijayanagar blast furnace, JSW Steel’s consolidated steel production has grown by 9% YoY in the two months of Q4 FY25.
(Representational image. Photo source: Freepik)
The brokerage maintain a Buy rating and a target price of Rs 1,080/share, valuing it at 8x FY27E consolidated Ebitda. JSW Steel has traded at a similar mean multiple in the past five years. The brokerage have also ascribed 50% value to the FY27E capital work in progress and long-term investments to arrive at our fair value.
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