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Buy JSW Steel, target Rs 290: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on JSW Steel Ltd. with a target price of Rs 290. The current market price of JSW Steel Ltd. is Rs 276.95. Time period given by the analyst is Intra Day when JSW Steel Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 270. JSW Steel Ltd., incorporated in 1994, has a market cap of Rs 66944.92 crore.

JSW Steel Ltd. key Products/Revenue Segments include Hot Rolled Coils/Plates/Sheets which contributed Rs 33336.00 Crore to Sales Value (50.33 % of Total Sales), Rolled Product which contributed Rs 13623.00 Crore to Sales Value (20.56 % of Total Sales), Coils (Cold Rolled) which contributed Rs 9588.00 Crore to Sales Value (14.47 % of Total Sales), Others which contributed Rs 3226.00 Crore to Sales Value (4.87 % of Total Sales), Coils & Sheets (Galvanised) which contributed Rs 2361.00 Crore to Sales Value (3.56 % of Total Sales), Billets & Blooms which contributed Rs 1779.00 Crore to Sales Value (2.68 % of Total Sales), Other Operating Revenue which contributed Rs 1188.00 Crore to Sales Value (1.79 % of Total Sales), M S/S S Slabs which contributed Rs 1133.00 Crore to Sales Value (1.71 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 31-03-2019, the company has reported a Consolidated sales of Rs 21837.00 Crore, up 10.17 % from last quarter Sales of Rs 19821.00 Crore and up 9.04 % from last year same quarter Sales of Rs 20027.00 Crore Company has reported net profit after tax of Rs 1528.00 Crore in latest quarter. The company’s top management includes Dr.Vinod Nowal, Dr.(Mrs.)Punita Kumar Sinha, Mr.Ganga Ram Baderiya, Mr.Haigreve Khaitan, Mr.Hiroyuki Ogawa, Mr.Jayant Acharya, Mr.M V S Seshagiri Rao, Mr.Malay Mukherjee, Mr.N Jayaram, Mr.Sajjan Jindal, Mr.Seturaman Mahalingam, Mrs.Savitri Devi Jindal. Company has S R B C & Co. LLP as its auditoRs As on 31-03-2019, the company has a total of 2,417,220,440 shares outstanding.

Source: Economic Times