Axis Securities said that JSW Steel is in a strong uptrend across all time frames, forming a series of higher tops and bottoms indicating positive bias.
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.
JSW Steel and Tata Steel are expected to outperform. The brokerage attributed this resilience to a superior sales mix, cost control measures, operational efficiency, and a steady growth in volumes.
ICICI Securities has a buy call on Tata Steel and Jindal Steel. It has a hold call on JSW Steel and SAIL.
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.
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.
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.
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.
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.





