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Buy JSW Steel, price target Rs 294: Dharmesh Shah

The analyst suggested a stop loss at Rs 269.

ETMarkets.com|
Last Updated: Jan 14, 2020, 09.47 AM IST
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Dharmesh Shah of ICICI Direct has a buy call on JSW Steel Ltd. with a target price of Rs 294. The current price of JSW Steel Ltd. is Rs 282.25. Time period given by the analyst is Intra Day when JSW Steel Ltd. price can reach defined target. Dharmesh Shah recommended to keep a stop loss at Rs 269.

JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 67355.85 Crore) operating in Metals - Ferrous sector.

JSW Steel Ltd. key Products/Revenue Segments include Hot Rolled Coils/Plates/Sheets which contributed Rs 39316 Crore to Sales Value (51.24 % of Total Sales), Rolled Product which contributed Rs 16762 Crore to Sales Value (21.84 % of Total Sales), Coils (Cold Rolled) which contributed Rs 10603 Crore to Sales Value (13.81 % of Total Sales), Others which contributed Rs 2560 Crore to Sales Value (3.33 % of Total Sales), Coils & Sheets (Galvanised) which contributed Rs 2527 Crore to Sales Value (3.29 % of Total Sales) for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 17203 Crore, down 11.36 % from last quarter sales of Rs 19407 Crore and down 17.65 % from last year same quarter sales of Rs 20891 Crore. Company has reported net profit after tax of Rs 2551 Crore in latest quarter.

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