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JSW Steel-JFE Steel JV On BPSL Spurs Growth; Motilal Oswal Reiterates 'Buy' Call
With strategic alliances, and a clear roadmap for capacity expansion, JSW Steel appears well-positioned to capitalize on India’s growing steel demandand deliver long-term shareholder value.
04 Dec 2025, 10:00 AM IST 
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JSW Steel trades at 8.4x FY27E EV/Ebitda, supported by expectations of double-digit revenue growth and margin recovery to 18–19% in FY26–27, aided by domestic price recovery and soft input costs.
(Photo source: JSW Steel website)
Motilal Oswal estimates the transaction at attractive valuations, pegging BPSL’s FY28 Ebitda at Rs 45 billion. The brokerage reiterates a Buy rating on JSW Steel with a target price of RS 1,350, implying an 18% upside from the current market price of Rs 1,144.
