JSW Steel rises as UBS initiates coverage with 'neutral' rating

JSW Steel

15/06/2026 05:44

** JSW Steel JSTL.NS shares rise 1.4% to 1,315.90 rupees 
** Stock on track for fifth straight session of gains
** UBS initiates coverage of iron and steel co with "neutral", TP of 1,400 rupees apiece
** Notes strong growth, capacity expansion, rising volumes, and supportive industry conditions, but growth largely priced-in
** Expects domestic steel demand to slow down slightly, but still healthy, as government capex normalises
** 19 out of 33 brokerages rate JSTL "buy" or higher, median PT of 1,390.5 rupees — LSEG-compiled data
** YTD, stock up 12.60%

(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))