Best Stocks to Buy Today : Kotak Securities's call on Jindal Steel & Power - June 20

Kotak Securities has issued a buy call on Jindal Steel & Power with a target price of Rs 1110. The stock is currently trading at Rs 1067, offering a potential upside of 4%. The brokerage firm recommends investors to buy the stock at current levels, expecting a rally towards the target price.

About Jindal Steel & Power:

Jindal Steel & Power (JSPL) is a leading Indian steel producer with a global footprint. It operates integrated steel plants in India, Indonesia, and Oman, producing a wide range of steel products including hot rolled coils, plates, bars, rods, and special steels. JSPL also has a significant presence in the power sector, generating electricity from thermal and renewable sources. The company has a strong focus on sustainability and innovation, investing in research and development to enhance efficiency and reduce environmental impact. JSPL's commitment to quality and customer satisfaction has earned it a reputation as a reliable and trusted partner in the steel industry.

52 Week Price Trend:

Jindal Steel & Power's (JSPL) current market price (CMP) stands at Rs 1067, showcasing a significant appreciation from its 52-week low of Rs 503. The stock has performed remarkably well, surpassing its 52-week high of Rs 804.85. This notable surge reflects the company's robust performance, driven by strong demand for steel products, operational efficiencies, and cost optimization measures. JSPL's strategic focus on expanding its product portfolio, optimizing its supply chain, and exploring new markets has contributed to its sustained growth and shareholder value creation.

Stratzy's MOST Analysis:

Stratzy's MOST framework has assigned a BBB rating to Jindal Steel & Power (JINDALSTEL), indicating a medium level of fundamental risk. This rating is based on the company's strengths in management, a positive outlook, safety measures, and a stable industry trend. Despite this, the company may face certain challenges or uncertainties that could impact its long-term performance. Investors should carefully consider these factors before making investment decisions.

Company's Fundamentals:

Jindal Steel & Power (NSE: JINDALSTEL) is trading at a stock PE of 14.17, indicating that its share price is 14.17 times its annual earnings per share. The PB ratio of 1.9 suggests that the company's market value is 1.9 times its book value, indicating that it is slightly overvalued relative to its assets. However, the dividend yield of 0.26% implies that the company pays out a relatively small portion of its earnings as dividends, which may be attractive to investors seeking income from their investment.

Fundamental and Technical information provided in this blog were last updated on 20 Jun, 2024

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