Buy JSW Steel Ltd., target Rs 1976.0 : Deutsche Bank Research

Deutsche Bank Research has Buy call on JSW Steel Ltd. with a target price of Rs 1976.0. The current market price of JSW Steel Ltd. is 1726.8. Time period given by analyst is year, when JSW Steel Ltd. price can reach defined target. This rating was triggered by an impressive growth in crude steel production with a 19 per cent year-on-year (YoY) growth in July 2016 to 1.34mt, the Deutsche Bank note said. Sustained policy support limits further downside in domestic steel prices from global weakness in steel prices. Conservative estimates factor in 18 per cent sales growth in FY17, and significant scope for upside risk. Deutsche Bank remains positive on both volume and profitability outlook.