JSW Cement shares slip 6% post decent stock listing; what analysts say
The stock declined nearly 6 per cent to hit day’s low of Rs 145.05 on BSE. The counter had opened at Rs 153, marking a 4.08 per cent premium over its issue price of Rs 147.
- Aug 14, 2025,
- Updated Aug 14, 2025 2:27 PM IST
Shares of JSW Cement Ltd slipped 6 per cent in Thursday’s trade shortly after listing at a 4 per cent premium.
The stock declined nearly 6 per cent to hit day’s low of Rs 145.05 on BSE. The counter had opened at Rs 153, marking a 4.08 per cent premium over its issue price of Rs 147. At 1:47 pm, the scrip was trading 3.01 per cent lower at Rs 148.40.
Commenting on the listing, SimranJeet Singh Bhatia, Senior Equity Research Analyst – Equity at Almondz Global, said the stock is trading flat and corrected from day’s high. Currently JSW Cement's installed grinding capacity was 20.6 million tonnes per annum (MTPA) and it plans to increase to 41.85 MTPA going forward.
“The company’s operating performance continued to be weak, with concern majorly on high debt and weak coverage ratios. On the revenue front, the company has posted growth from FY23 till date. Revenue posted in FY25 is Rs 5,813 crore, while operating margins declined to 12 per cent in FY25 from 15.37 per cent in FY24,” Bhatia said.
“Debt continued to be on the higher side, increasing to Rs 6,166 crore in FY25 from Rs 5,420 crore in FY23. Coverage ratios continued to be weak, with Debt to EBITDA at 8.63x in FY25. Will advise investors to book the profit, as operating performance continued to be weak,” Bhatia added.
Mumbai-based JSW Cement’s initial public offering (IPO), open for subscription from August 7 to August 11, was priced in the range of Rs 139–147 per share with a lot size of 102 shares. The cement maker raised Rs 3,600 crore through the issue, comprising a fresh equity sale worth Rs 1,600 crore and an offer for sale (OFS) of up to 13.60 crore shares, aggregating Rs 2,000 crore.
Sourav Choudhary, MD, Raghunath Capital, said, “JSW Cement made a steady market debut today, listing at Rs 153.50 on NSE and Rs 153.00 on BSE — around a 4% premium to its IPO price of Rs 147.
Choudhary said the modest yet positive opening reflects balanced investor sentiment, underpinned by the company’s robust fundamentals and the JSW Group’s strong brand positioning. In the short term, we expect the stock to consolidate in the Rs 145–160 range, with upside capped until performance triggers emerge in the coming quarters.
“For those who entered purely for listing gains, partial profit booking is advisable while retaining a core position to capture medium-term potential. The medium- to long-term outlook remains attractive, driven by capacity expansion to 25 MTPA by FY26, synergies from JSW Group companies, and healthy demand from infrastructure and housing sectors. We recommend accumulating on dips towards Rs 145–148 for a structural portfolio play,” Choudhary said.
Shares of JSW Cement Ltd slipped 6 per cent in Thursday’s trade shortly after listing at a 4 per cent premium.
The stock declined nearly 6 per cent to hit day’s low of Rs 145.05 on BSE. The counter had opened at Rs 153, marking a 4.08 per cent premium over its issue price of Rs 147. At 1:47 pm, the scrip was trading 3.01 per cent lower at Rs 148.40.
Commenting on the listing, SimranJeet Singh Bhatia, Senior Equity Research Analyst – Equity at Almondz Global, said the stock is trading flat and corrected from day’s high. Currently JSW Cement's installed grinding capacity was 20.6 million tonnes per annum (MTPA) and it plans to increase to 41.85 MTPA going forward.
“The company’s operating performance continued to be weak, with concern majorly on high debt and weak coverage ratios. On the revenue front, the company has posted growth from FY23 till date. Revenue posted in FY25 is Rs 5,813 crore, while operating margins declined to 12 per cent in FY25 from 15.37 per cent in FY24,” Bhatia said.
“Debt continued to be on the higher side, increasing to Rs 6,166 crore in FY25 from Rs 5,420 crore in FY23. Coverage ratios continued to be weak, with Debt to EBITDA at 8.63x in FY25. Will advise investors to book the profit, as operating performance continued to be weak,” Bhatia added.
Mumbai-based JSW Cement’s initial public offering (IPO), open for subscription from August 7 to August 11, was priced in the range of Rs 139–147 per share with a lot size of 102 shares. The cement maker raised Rs 3,600 crore through the issue, comprising a fresh equity sale worth Rs 1,600 crore and an offer for sale (OFS) of up to 13.60 crore shares, aggregating Rs 2,000 crore.
Sourav Choudhary, MD, Raghunath Capital, said, “JSW Cement made a steady market debut today, listing at Rs 153.50 on NSE and Rs 153.00 on BSE — around a 4% premium to its IPO price of Rs 147.
Choudhary said the modest yet positive opening reflects balanced investor sentiment, underpinned by the company’s robust fundamentals and the JSW Group’s strong brand positioning. In the short term, we expect the stock to consolidate in the Rs 145–160 range, with upside capped until performance triggers emerge in the coming quarters.
“For those who entered purely for listing gains, partial profit booking is advisable while retaining a core position to capture medium-term potential. The medium- to long-term outlook remains attractive, driven by capacity expansion to 25 MTPA by FY26, synergies from JSW Group companies, and healthy demand from infrastructure and housing sectors. We recommend accumulating on dips towards Rs 145–148 for a structural portfolio play,” Choudhary said.