The stock is currently trading mixed; the price is below its 50-day Simple Moving Average (SMA) of 1,160.10, indicating short-term pressure, but remains comfortably above its long-term 200-day SMA of 1,057.90.
JSW Steel has agreed to sell 50 per cent stake in BPSL to JFE Steel for Rs 15,700 crore in cash, payable in two equal tranches.
Stocks including Reliance, IndiGo, BEML, Pine Labs, ONGC, JSW Steel, IEX, RailTel Corp, Rail Vikas Nigam, JK Cement and more will be in the spotlight on Thursday, December 04.
JSW Steel shares crashed 4.97% to a low of Rs 1,104 in the afternoon session today against the previous close of Rs 1161.75. Market cap of the firm slipped to Rs 2.79 lakh crore.
Among metals & mining shares, the brokerage suggested 'Buy' rating on Hindalco, Vedanta, Nalco, Tata Steel and Gravita India. It has 'Add' rating on JSW Steel and Coal India.
"The entire BFSI space looks pretty attractive to us, but you have to be at least having a horizon of six to nine months out there because the public sector banking space has moved up a lot," the market expert told Business Today.
The brokerage values Jindal Steel at Rs 1,150. It sees JSW Steel at Rs 1,300. The foreign brokerage has a target price of Rs 215 on the Tata group's Tata Steel.
The list included One 97 Communications Ltd (Paytm) Hindustan Unilever (HUL), JSW Steel Ltd, Lodha Developers Ltd, JSW Energy Ltd, Asian Paints Ltd, GCPL and Dr Reddy's Labs.
An analyst from Master Capital Services said that Asian Paints has given a strong breakout from falling trendline resistance, backed by robust volume, indicating renewed buying interest.
As far as FY26 earnings revisions go, the top upgrades include HDFC Bank (up 4.2 per cent), Shriram Finance (up 4.5 per cent), UltraTech Cement (up 3.2 per cent), and Dr Reddy’s Laboratories (up 2.9 per cent).
Industrial commodities such as copper, aluminium, and zinc are all nearing multi-year breakout zones, signalling the potential start of a renewed upcycle in base metals, Elara said.
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