Buy JSW Steel, target price Rs 695: Kotak Securities

Kotak Securities Limited has buy call on JSW Steel with a target price of Rs 695.

The current market price of JSW Steel Ltd. is Rs 673.45.

Time period given by analyst is Intra Day when JSW Steel Ltd. price can reach defined target. .


JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 162944.83 Crore) operating in Metals - Ferrous sector.

JSW Steel Ltd. key Products/Revenue Segments include Hot Rolled Coils/Plates/Sheets, Rolled Product, Coils (Cold Rolled), Others, Coils & Sheets (Galvanised), Other Operating Revenue, Billets & Blooms, M S/S S Slabs for the year ending 31-Mar-2020.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 29100.00 Crore, up 7.40 % from last quarter Total Income of Rs 27095.00 Crore and up 144.25 % from last year same quarter Total Income of Rs 11914.00 Crore. Company reported net profit after tax of Rs 5577.00 Crore in latest quarter.

Investment Rationale
Closed above its 20 Days SMA along with the rising volume which hints at the bullish strength.

Promoter/FII Holdings
Promoters held 44.09 per cent stake in the company as of 30-Sep-2021, while FIIs owned 12.17 per cent, DIIs 8.05 per cent.