Capacity expansion to propel growth

Company
11 Mar 2024
5 Min read 
  • Jindal Steel & Power is undergoing capacity expansion, which will increase its crude steel capacity by over 65%.
  •  The expansion will make JSP the fourth largest steel manufacturer in India.
  •  JSP plans to strengthen its raw material integration and increase the share of flat steel.
  •  The company has a strong balance sheet with a comfortable net debt-to-EBITDA ratio.
  •  JSP's stock trades at attractive valuations with a target price of INR900.
  •  Key downside risk is a delay in the commissioning of coal mines.
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