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.

JSW Steel announced that the company has not yet lost expectations on acquirement of Bellary Steel & Alloys (BSAL).

Moreover, the company has rolled out JSW Pragati, a novel variety of colour-coated galvanised steel sheets, in the state of West Bengal.

The latest product will be obtainable all through the West Bengal through its JSW Shoppe franchises including Ispat Enterprises (P) Ltd, Mahabir Steel Enterprise (P) Ltd and Rawalwasia Steel Company.

The company said that JSW Pragati will be made available in all JSW Shoppe retail outlets across India in phases.

JSW Steel Senior Vice-President (Business Development) Sunil Prakash stated, "The objective of introducing this innovative product is to raise the standard of living of the masses without letting them feel the pinch in their budgets."