{"id":53291,"date":"2022-07-14T14:40:00","date_gmt":"2022-07-14T09:10:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=53291"},"modified":"2022-07-14T14:32:35","modified_gmt":"2022-07-14T09:02:35","slug":"top-stock-pick-buy-this-steel-stock-for-an-upside-of-more-than-80","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/top-stock-pick-buy-this-steel-stock-for-an-upside-of-more-than-80\/","title":{"rendered":"Top Stock Pick: BUY this steel stock for an upside of more than 80%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3628838511\"><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>ICICI Securities in its research report dated July 12, 2022, has upgraded the shares of Jindal Stainless Limited (JSL) from \u2018hold\u2019 to \u2018buy\u2019. Further, it has given a target price of \u20b9 200 apiece on the share, implying an 83.07% upside as compared to the current market price of \u20b9 109.25.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1245101478\"><!-- 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>Jindal stainless steel is one of the leading stainless steel manufacturing companies in the world and it is India\u2019s largest stainless steel manufacturer. It operates an integrated steel plant in Jajpur, Odisha. The plant has a total stainless steel capacity of 1.1 million tonnes per annum. Moreover, it has a readily leverageable infrastructure for cost-efficient brownfield expansion.<\/p><p>The company is looking at a \u20b9650 crore Capex as it plans to ramp up its value-added and speciality product-making capacities. Further, it is exploring investment opportunities in the renewables segment.<\/p><p>\u201cWe have successfully commissioned a 26,000 TPA capacity in the first phase of this expansion in Q3FY22, taking the current total capacity to 48,000 TPA. This will strengthen our presence in segments such as auto, process industry, and oil &amp; petrochemicals,\u201d said Abhyuday Jindal, Managing Director, Jindal Stainless Limited.<\/p><div class=\"trade-content_5\" id=\"trade-336203005\"><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>He added that it will also catalyse their offerings to niche segments like aerospace and electric vehicles.<\/p><h4 class=\"wp-block-heading\"><strong>Investment Rationale<\/strong><\/h4><p>The takeaways from the management\u2019s meeting include:<\/p><ul class=\"wp-block-list\"><li>Exports can be maintained at 16,000tpm (down from the peak run-rate of 30,000tpm) despite the export duty of 15%. This is on account of higher margins in the US.<\/li><li>It is reconsidering a blast furnace in JUSL, an associated entity.<\/li><li>To leverage or hold on to the environmental benefits of running a secondary steel operation and investor feedback has played its part in our view<\/li><li>It is considering a merger of JUSL into JSL in order to avoid the recurring need for approvals in AGMS and related party transactions.<\/li><\/ul><p>The small-cap company has a market capitalization of \u20b9 5,570 crores and was incorporated in 1980. Some of its key products or revenue streams include steel, job work, sale of services, export incentives and other operating revenue.<\/p><p>The company reported a consolidated total income of \u20b9 6582.84 crores, in the March quarter, up 15.85% as compared to \u20b9 5682.37 crores from the previous quarter and up 67.66% from the corresponding quarter last year. The company is yet to release its results for the June quarter.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By: Simran Bafna<\/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-4079105530\"><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>ICICI Securities in its research report dated July 12, 2022, has upgraded the shares of Jindal Stainless Limited (JSL) from \u2018hold\u2019 to \u2018buy\u2019. Further, it has given a target price of \u20b9 200 apiece on the share, implying an 83.07% upside as compared to the current market price of \u20b9 109.25. Jindal stainless steel is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23777,"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":[3464,2660,3913,3912,936,4202,3040,3153,4178,4183,3157,3158,69],"class_list":["post-53291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news","tag-multibagger-returns","tag-multibagger-stock","tag-multibagger-stock-to-buy","tag-multibagger-stock-to-watch","tag-stock-market-news","tag-stock-recommendation","tag-stock-recommendations","tag-stock-to-buy","tag-stock-to-buy-in-2022","tag-stock-to-trade","tag-stock-to-watch","tag-stock-to-watch-in-2022","tag-stock-trading"],"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>Top Stock Pick: BUY this steel stock for an upside of more than 80% - 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\/top-stock-pick-buy-this-steel-stock-for-an-upside-of-more-than-80\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top Stock Pick: BUY this steel stock for an upside of more than 80%\" \/>\n<meta property=\"og:description\" content=\"ICICI Securities in its research report dated July 12, 2022, has upgraded the shares of Jindal Stainless Limited (JSL) from \u2018hold\u2019 to \u2018buy\u2019. 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