India's JSW Steel, Jindal Stainless jump on Jefferies' rating actions

Jindal Stainless

29/05/2025 04:55

** Shares of India's biggest steelmaker JSW Steel JSTL.NS up ~2%, Jindal Stainless JIST.NS rise ~3%

** Brokerage Jefferies upgrades JSTL to "buy" from "hold", starts coverage on JIST with a "buy" call

** Domestic steel cos offer strong volume growth, safeguard duty aiding profitability, brokerage adds

** "India offers a bright spot in the world largely devoid of volume growth in commodities" - Jefferies

** On an avg, JSTL and JIST rated "hold" and "strong buy" respectively - data compiled by LSEG

** YTD JSTL has gained 11% while JIST down over 7%

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))