Buy JSW Steel with a target at Rs 1550: Prabhudas Lilladher
The company continued to maintain its stellar operational performance reporting robust improvement in margins despite marginal increase in realizations.
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| Updated: Prabhudas Lilladher maintains buy rating on JSW Steel post March quarter results with a 12-month target price of Rs 1550.
The company continued to maintain its stellar operational performance reporting robust improvement in margins despite marginal increase in realizations. "With domestic steel prices having improved 25 per cent since lows of January, its full benefit would only be visible in Q1FY17 likely pushing margins to Rs8500/t+ (to highest in past 20 quarters)," said the report.
"We reiterate our view that JSW Steel stand as the best play in the sector with highly competitive operations, rich product mix and comfortable balance sheet," he added.
The company continued to maintain its stellar operational performance reporting robust improvement in margins despite marginal increase in realizations. "With domestic steel prices having improved 25 per cent since lows of January, its full benefit would only be visible in Q1FY17 likely pushing margins to Rs8500/t+ (to highest in past 20 quarters)," said the report.
"We reiterate our view that JSW Steel stand as the best play in the sector with highly competitive operations, rich product mix and comfortable balance sheet," he added.
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