An analyst from Master Capital Services said that ICICI Bank Ltd has taken support at its horizontal support band, which has previously acted as a strong support zone.
Nomura upped it target on JSW Steel to Rs 1,340 from Rs 1,300 earlier. It suggested a target of Rs 215 on Tata Steel and Rs 1,150 on Jindal Steel.
Nomura expects JSW Steel standalone and Tata Steel standalone to report around Rs 1,900 to Rs 2,000 per tonne sequential decline in realisations.
Antique maintained 'Buy' ratings on Tata Steel with a target price of Rs 199 and Jindal Steel with a target price of Rs 1,171, while retaining 'Hold' on SAIL with a target of Rs 129 and JSW Steel with a target of Rs 942.
"As per our estimates, the stock is currently valued at 7x of FY28 EBITDA, which appears to be attractive," Axis said.
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.
SMIFS said that Ratnaveer Precision's capex-led expansion, foray into new product lines to address rising demand in the economy, provide clear visibility for sustained earnings growth.
The scrip registered a second straight session of gains and is trading about 46 per cent above its 52-week low of Rs 723.95.
Jindal Steel achieved a key milestone with the commissioning of its 4.6 mtpa BF and 3 mtpa BoF, a project that took nearly 4.5 years from setup to trial runs and eventual production.
For Jindal Steel, Nuvama raised its target price to Rs 1,150, rolling forward valuations to FY28 and increasing the target one-year EV/Ebitda multiple to 7 times.
JM Financial has 'Buy' rating on Tata Steel with a target of Rs 185. It also has 'Buy' on JSW Steel (target price: Rs 1,280) and Jindal Steel (target price: Rs 1,200) and 'Sell on SAIL (target price: Rs 94).





