Stock market analysts are of the view that investors can buy JSW Steel Ltd stock to achieve an intraday target of Rs 1090.

According to them, investors can buy the stock with a strict stop loss of Rs 1034.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 1123.

Shares of the company, on Thursday (Feb 04), closed at Rs 1023.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1205.95 and a low of Rs 165 on BSE.

Current EPS & P/E ratio of the stock stood at 71.50 & 13.46 respectively.

JSW Steel Ltd. awaits sanction for four domestic iron-ore mines, securing lower-cost supplies for a development to boost capacity over 40%. The stock surged the most in a period of 30 days.

Mining may begin in 2010 at one of the locations pending final approval from the forest section, Group Chief Financial Officer Seshagiri Rao said.

JSW Steel, On Feb 03, announced an increase of 66% in its crude steel production for January 2010 as against the same month of 2009.

CThe company's crude steel production increased to 5,33,000 tons in the last month as compared to 3,20,000 tons in Jan 2009.

In January 2010, rolled products (flat) production climbed up to 3,32,000 tons as compared to 2,60,000 tons in Jan last year.

JSW Steel attained 4.92 million tons of crude steel production in a cumulative manner up to Jan 2010 in the existing financial registering growth of 60% as against corresponding period of 2009.