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Anand Rathi Report
Considering Jindal Stainlesss Ltd.’s strong focus on capacity expansion, raw material integration, enhanced share of value added products and tight balance-sheet control, we initiate coverage on Jindal Stainless with a Buy recommendation.
Our FY27e target price is Rs 870 (10 times FY27e enterprise value/Ebitda).
Key risks:
Fluctuations in nickel prices, more imports from China and other Asian countries and slowing domestic demand.
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Also Read: ICICI Bank To Varun Beverages — Here Are Top Stock Picks For November 2024 By Axis Securities
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