Steel Sector

JSW Steel quarterly net profit rises 16 percent

JSW Steel quarterly net profit rises 16 percentMumbai, May 16 : Indian steel major JSW Steel Monday posted a 16 percent increase in its net profit at Rs. 832.66 crore for the quarter ended March 31 as against Rs. 716.95 crore during the like period of the previous fiscal.

The net sales rose 36 percent for the quarter under review at Rs. 7,032.07 crore as against Rs. 5,167.07 crore during the same period of the previous fiscal, the company said in a regulatory filing.

Buy SAIL With Stop Loss Of Rs 165

Buy SAIL With Stop Loss Of Rs 165Technical analyst Jai Bala of cashthechaos. com has maintained 'buy' rating on Steel Authority of India Limited (SAIL) stock to attain an intraday target of Rs 172.

According to analyst, the investors can buy the stock with trailing stop loss of Rs 165.

The stock of the company, on April 27, closed at Rs 167.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 13.22 and 12.49 respectively.

The share price has seen a 52-week high of Rs 234.10 and a low of Rs 152.50 on BSE.

Buy JSW Steel With Target Of Rs 1000

Buy JSW Steel With Target Of Rs 1000Technical analyst Prakash Gaba has maintained 'buy' rating on JSW Steel Limited stock to attain a target of Rs 1000 in 1-2 trading sessions.

According to analyst, the investors can buy the stock with trailing stop loss of Rs 970.

The stock of the company, on April 25, closed at Rs 978.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 84.93 and 11.44 respectively.

The share price has seen a 52-week high of Rs 1400 and a low of Rs 790 on BSE.

JSPL's Net Zooms 4% To Rs 1,002 Crore

JSPL's Net Zooms 4% To Rs 1,002 CroreJindal Steel and Power has recorded an increase of 4% in its consolidated net profit, which stood at Rs 1,001.7 crore for the fourth quarter ended March 31.

The company's consolidated turnover for the three month period under review grew by 21% to Rs 3,854.54 crore.

JSPL's total expenditure remained at Rs 2,461.55 crore for Jan-Mar period as compared to Rs 1,919.89 crore during the same period of 2010.

Director and group CFO Sushil Maroo statedd, "The rise in the profit and the turnover is mainly because of the contribution from the steel business."

Buy Tata Steel Above Rs 630

Buy Tata Steel Above Rs 630Technical analyst Anu Jain has maintained 'buy' rating on Tata Steel Limited stock.

The analyst said that the interested investors can buy the stock above Rs 630 to achieve a target of 648-650.

The stock of the company, on April 20, closed at Rs 625 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 713.80 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 8.05 respectively.

Buy Jindal Steel With Stop Loss Of Rs 673

Buy Jindal Steel With Stop Loss Of Rs 673Technical Analyst Parsh Zaveri of Zaveri Investment has maintained 'buy' rating on Jindal Steel & Power Limited (JSPL) stock with a target of Rs 698.

Mr. Surekha said that the stock can be purchased with a stop loss of Rs 673.

The stock of the company, on April 20, closed at Rs 677.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 754 and a low of Rs 610 on BSE.

Current EPS & P/E ratio stood at 21.04 and 32.79 respectively.

Group rejects Orissa's claim about POSCO site

Group rejects Orissa's claim about POSCO siteBhubaneswar, April 14 - An anti-displacement group Thursday here rejected the claim of the Orissa government that there were no tribal inhabitants or other traditional forest dwellers in the proposed site of the $12 billion POSCO steel project in the state.

The POSCO Pratirodh Sangram Samiti (PPSS), which has been spearheading the movement against the project in the coastal district of Jagatsinghpur, said the state government has for the third time submitted false information.

JSW Steel Short Term Buy Call

JSW Steel Short Term Buy CallTechnical analyst Nitin Murarka of SMC Global is bullish on JSW Steel Limited and has maintained 'hold' rating on the stock to achieve a short term target.

The analyst said that the stock can be purchased to achieve a target of Rs 1000-1050.

Mr. Murarka added that the interested investors can buy the stock with a stop loss of Rs 890.

Today, the stock of the company opened at Rs 905.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1400 and a low of Rs 790 on BSE.

Current EPS & P/E ratio stood at 84.93 and 10.81 respectively.

Tata Steel Long Term Buy Call

Tata Steel Long Term Buy CallTechnical analyst Pankaj Jain of Satguru Capital is bullish on Tata Steel Limited and has maintained 'hold' rating on the stock to attain a long-term target.

Mr. Jain said that the investors can buy the stock with a target of Rs 700.

Today, the stock of the company opened at Rs 604.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 737 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 7.80 respectively.

Tata Steel is in a cheerful mood.

Buy SAIL With Target Of Rs 195 : FairWealth Securities

Buy SAIL With Target Of Rs 195 : FairWealth SecuritiesSAIL is all set to bank on the domestic consumption of steel primarily driven by the ongoing infrastructure development in the country, with its ambitious expansion plans, which will increase its crude steel capacity to 23.2mt by 2013 from 14mt currently.

SAIL is banking on the robust demand witnessed for finished and premium steel segment by expanding its value added steelmaking capacity. The value added or premium segment commands 20-25% premium over semi-finished or crude steel

Buy SAIL With Target With Stop Loss Of Rs 154

Buy SAIL With Target With Stop Loss Of Rs 154Technical analyst Rakesh Bansal of New Age Wealth is bullish on Stee Authority of India Limited (SAIL) and has maintained 'buy' rating on the stock.

According to the analyst, the interested investors can buy the stock with a target of Rs 168 till expiry.

Mr. Bansal said that the stock can be purchased with a stop loss of Rs 154.

The stock of the company, on March 21, closed at Rs 159.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 152.50 on BSE.

Intraday By Call For SAIL

Intraday By Call For SAILTechnical analyst Nishant Jain of Tradeswift Broking is bullish on Steel Authority of India Limited (SAIL) and has maintained 'buy' rating on the stock with an intra-day target of Rs 163.

According to Nishant Jain, the stock can be purchased with a stop loss of Rs 155.

The stock of the company, on March 17, closed at Rs 158.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 152.50 on BSE.

Current EPS & P/E ratio stood at 13.22 and 12.25 respectively.

Tata Steel Said to Plan Selling Perpetual Bonds to Raise 15 Billion Rupees

Tata Steel Said to Plan Selling Perpetual Bonds to Raise 15 Billion RupeesTata Steel Ltd. (TATA) which is considered as one of the biggest steel producers of the country is looking forward to raise near about 15 billion rupees ($332 million) in sale of rupee perpetual bonds by a non-finance company. This has been informed by the experts. This is going to be the country’s first sale of rupee perpetual bonds by a non-finance company.

It has also been informed from a secret source that the sale will be set up by JPMorgan Chase & Co. (JPM) along with ICICI Bank Ltd. (ICICIBC).

Tax raid at Jindal Steel Mumbai office

Tax raid at Jindal Steel Mumbai officeIncome tax officials raided the offices of JSW Steel Ltd and JSW Energy Ltd on Wednesday for fudging income tax.

JSW group has its offices in Mumbai and Rajasthan and investigating team reach both the places early morning to begin its search operations.

At Bombay Stock Exchange stock price of JSW Energy slide down by 0.55% to Rs 72.55 per share while JSW Steel’s stock climb by 0.15% to Rs 910.50 per share at 2.20 pm.

An official said that the company has allegedly synchronized the accounts to hide the figures so as to reduce the tax liability.

Bhushan Steel Ltd Book Profit Research by FairWealth Securities

Bhushan Steel Ltd Book Profit Research by PINC ResearchWe recommend our clients to book profit in Bhushan Steel Ltd (BSL) at Rs 431. ‘Fundamental BUY’ call was given at Rs 360 on 09th Feb, 2011 and the stock has almost given 20% return from this level. Higher raw material prices (~35% rise) are likely to hit margins by 300-500bps coupled with uncertain demand prevailing in the industry due to high interest rate environment in Indian economy.

Rationale

Buy Bhushan Steel With Stop Loss Of Rs 399

Buy Bhushan Steel With Stop Loss Of Rs 399IIFL is bullish on Bhushan Steel and has maintained 'buy' rating on the stock in its latest research report.

According to IIFL research report, the interested investors can buy the stock to achieve a target of Rs 425

The research report said that the interested investors can buy the stock above Rs 407 with stop loss of Rs 399.

Today, the stock of the company opened at Rs 406 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 545 and a low of Rs 254 on BSE.

Jindal meets Orissa CM for mega project

Jindal meets Orissa CM for mega projectJindal Steel and Power Limited (JSPL) announced its ambitious plan of setting up biggest steel plant of world in Orissa. Jindal Steel is all set ready to commission first phase of its 6 mtpa steel project by March, 2012. Company's managing director and Vice-chairman Naveen Jindal had a meeting with Orissa CM Naveen Patnaik.

SAIL to focus rural India

SAIL to focus rural IndiaAccording to recent media reports, Steel Authority of India (SAIL) will now target rural India more. According to reports, company is looking to grow its business in rural India. For this company has plans of launching at least two dealers in all districts across India. Like a veteran retailer, company is planning small and customized lots.

Steel price may continue to increase

Steel price may continue to increaseTata Steel Vice-Chairman B Muthuraman recently told media that steel prices may further go up. He was talking to reporters during an event organized by CII. Upward trend is very likely, however, there is no exact percentage yet declared by steel major.

Muthuraman's statement came at a time when steel maker China Steel Corporation, Taiwan announced hike in steel prices in domestic markets. China Steel cited increased raw material cost as the reason for the increase in the prices. The same reason is cited by Tata Steel, here in India.

Buy Tata Steel With Stop Loss Of Rs 624

Buy Tata Steel With Stop Loss Of Rs 624Technical analyst Ashutosh Sarna maintained 'buy' rating on Tata Steel Limited stock with a target of Rs 653.

According to analyst, the stock can be purchased between Rs 640-627 with a stop loss of Rs 624.

The stock of the company, on Feb 18, closed at Rs 637.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 737 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 8.11 respectively.

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