India's Jindal Stainless rises; Nuvama upgrades to 'buy'

Jindal Stainless

14/01/2025 08:27

** Shares of Jindal Stainless  JIST.NS  rise 3.2% to 626.05
rupees; set to snap four-session losing streak
    ** Brokerage Nuvama upgrades rating to 'buy' from 'hold' and
raises PT to 836 rupees from 756 rupees
    ** Export demand, which is temporarily weak, is likely to
pick up in FY26, brokerage says
    ** Cites normalcy in freight rates and expectations of
increasing investment and infra spending after U.S. regime
change
    ** Nuvama expects improvement in profitability from improved
volumes, product mix and recovery in export market from FY26
    ** Profitability was hurt by weakness in export demand and
higher supply in domestic market, note says
    ** Avg analysts' rating on stock is a 'strong buy' with
median price target at 864.50 rupees - LSEG

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))