{"id":50049,"date":"2022-06-24T13:55:00","date_gmt":"2022-06-24T08:25:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=50049"},"modified":"2022-06-24T13:49:24","modified_gmt":"2022-06-24T08:19:24","slug":"stock-to-buy-analysts-recommend-this-steel-stock-for-an-upside-of-more-than-90","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-to-buy-analysts-recommend-this-steel-stock-for-an-upside-of-more-than-90\/","title":{"rendered":"Stock to Buy: Analysts Recommend this steel stock for an upside of more than 90%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1797067433\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of government-owned steel producer Steel Authority of India Ltd. (SAIL) have declined 38% to date since early April. As of 12:45 IST, the stock was trading at \u20b9 68.45, down 38% since the April 6 closing price of \u20b9 110.50 per share.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-15481675\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Billionaire investor Rakesh Jhunjhunwala, who earlier held a 1.8% stake in the company has reportedly trimmed his stake below 1% as per the shareholding pattern of the company. In an interview, Rakesh Jhunjhunwala mentioned that he was bullish on the steel sector.<\/p><p>The shares of metal companies have been under stress from slowdown and discontinuous lockdowns in China, the world\u2019s largest metal consumer. Interest rate hikes announced by the central banks across various countries to curb inflation and anticipated economic slowdown are also reasons which have contributed to decreased demand for the metal stocks.<\/p><p>The government&#8217;s decision to increase export duty on all grades of iron ore, pellets and non-alloy steel products came as a surprise to the industry.<\/p><div class=\"trade-content_5\" id=\"trade-1590142514\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The net profit for the March quarter ended 2022 increased 62% to \u20b9 2,478 crores from \u20b9\u00a0 1,528 crores reported for the December quarter ended 2021. On a year-on-year basis, it declined 28.5%. This was primarily because of a spike in expenses to the tune of 48.7% to \u20b9 28,005 for Q4FY22 from \u20b9 18,829 for Q4FY21.<\/p><p>Analysts at Edelweiss expect SAIL\u2019s debt to increase again despite its significant reduction in FY22 as the management has guided a capital expenditure of \u20b9 8,000 crores. Further, increasing coking coal costs are expected to dent operating margins.<\/p><p><strong>Analysts at Centrum Broking have given a price target of \u20b9 132 per share for the large-cap company, signalling an impressive upside of 93% over the next 12 months.<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vikalp Mishra<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2640295725\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of government-owned steel producer Steel Authority of India Ltd. (SAIL) have declined 38% to date since early April. As of 12:45 IST, the stock was trading at \u20b9 68.45, down 38% since the April 6 closing price of \u20b9 110.50 per share. Billionaire investor Rakesh Jhunjhunwala, who earlier held a 1.8% stake in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":35876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,31],"tags":[2660,465,3216,218,223,4184,4186,4185,4044,4187,3973,948,936,3153,4178,4183,3157,3158],"class_list":["post-50049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news","tag-multibagger-stock","tag-rakesh-jhunjhunwala","tag-rakesh-jhunjhunwala-stock","tag-sail","tag-sail-large-cap","tag-sail-price-target","tag-sail-recommendation","tag-sail-share-price","tag-steel-authority-of-india","tag-steel-sector","tag-steel-stock","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-buy-in-2022","tag-stock-to-trade","tag-stock-to-watch","tag-stock-to-watch-in-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock to Buy: Analysts Recommend this steel stock for an upside of more than 90% - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/stock-to-buy-analysts-recommend-this-steel-stock-for-an-upside-of-more-than-90\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stock to Buy: Analysts Recommend this steel stock for an upside of more than 90%\" \/>\n<meta property=\"og:description\" content=\"The shares of government-owned steel producer Steel Authority of India Ltd. 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