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This Power Stock Is Projected To Give +34% Return, 'Expansion Program On Track'

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The Sensex and Nifty are quite volatile at present in India, due to Omicron and inflation concerns. However, at that time, brokerage firm Motilal Oswal has recommended buying stocks of Jindal Steel & Power (JSPL) with a potential upside of +34%, within a target period of 1 year.

 

Target Price

Target Price

The Current Market Price (CMP) of Jindal Steel & Power is Rs. 357. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 478. Hence the stock is expected to give a +34% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP)Rs. 357
Target PriceRs. 478
1 Year returns34.00%

Company performance

Company performance

Jindal Steel & Power's net sales stood at Rs. 388.6 b, in FY 21, and the brokerage firm is expecting it is to grow Rs. 478.8 b, in FY 22, and Rs. 455.5 b in FY 23. The company's PAT stood at Rs. 62.7 b, in FY 21, and the brokerage firm is expecting it is to grow Rs. 80.7 b, in FY 22, and Rs. 49.6 b in FY 23. The company reported consolidated net debt of INR112b at end-2QFY22. The company has major expansion programs on track.

Comments by Motilal Oswal
 

Comments by Motilal Oswal

According to Motilal Oswal, "Over the near term, the Steel market remains weak. However, considering a) the long-term growth plan already under implementation (funded largely through internal accruals), b) the target to turn net debt zero by Mar'23 at the latest, and c) the mix towards flats improving the blended NSR substantially, we are positive on the stock and maintain a BUY rating."

About the company

About the company

JSPL is an industrial powerhouse with a dominant presence in the steel, power, mining, and infrastructure sectors. They have 10 MTPA Iron Making and 5049 MW Power Generating Capacity.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

(Also read: Reliance Industries' Stock Price Can Increase Up To 83%: Goldman Sachs)

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Story first published: Wednesday, December 8, 2021, 9:46 [IST]
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