India's JSW Steel gains on Q2 profit jump; analysts bullish on growth outlook

JSW Steel

26/10/2026 04:39

** Shares of JSW Steel JSTL.NS rise nearly 3% to 1,218 rupees
** Co reports over threefold jump in Q2 consol net profit
** PL Capital upgrades stock to "buy" from "accumulate"; cuts PT to 1,377 rupees from 1,412 rupees after stock's 12% fall from recent peak
** Notes co to outperform peers, supported by strong expansion pipeline, improving captive raw material security, sustained domestic steel demand growth, China’s production curtailment
** Systematix ("Buy"; PT: 1,515 rupees) says record volumes, improved utilisation and better overseas operations supported Q2
** Expects volumes to improve further in H2FY27, while higher steel realisations and product mix should partially offset expected $25/t coking coal cost hike
** Raises FY27E EBITDA estimate by 14%
** Stock rated "Buy" on average by 34 analysts; median PT 1,400 rupees - LSEG-compiled data
** YTD, stock up about 3.4%

(Reporting by Mridula Kumar in Bengaluru)
((Mridula.Kumar@thomsonreuters.com;))