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).
An Analyst from Master Capital said that L&T Finance has resumed its uptrend after a successful retest of the breakout above its all-time high at Rs 200, reaffirming bullish strength.
Domestic brokerage firm SMC Global has suggested four stocks- Power Finance Corporation, Jindal Steel & Power, Quess Corp and SBI Life Insurance- to bet amid the scarce opportunities to make money.
Domestic stock investors were looking for safeguard duty on steel, as Vietnam, South Korea, Europe and the US have already imposed or increased tariff barriers against steel imports in the past few weeks.
Shares of Tata Steel, Jindal Steel and Power, Vedanta, NMDC and SAIL are down up to 10% this year.
The RBI cut repo rate by 25 basis points to 6.25% on Friday. A reduction in the key lending rate is expected to add to demand for loans for infra and the real estate sectors.





