Morgan Stanley On Steel

Jindal Steel-Maintain Overweight-TP Rs 1340 (From Rs 1250) JSW Steel-Maintain Overweight-TP Rs 1470 (From Rs 1330) Tata Steel-Maintain Overweight-TP Rs 235 (From Rs 215) SAIL-Maintain Underweight-TP Rs 160 (From Rs 140) Increase F27 steel spread estimates by ~2%, while F28 remains largely unchanged. Localization of the Indian steel industry and the medium-term anti-involution theme in China provide structural support for steel spreads beyond seasonality. Steel stocks have performed well, and expect select names to continue to outperform, supported by strong earnings growth potential. Limited Middle East conflict impact

S.A.L.STEEL LTD.

← Back to feed