JSW Steel has risen to the top as the most valuable steel company in the world in terms of market capitalization, leaving behind the likes of ArcelorMittal and Nippon Steel. The Indian steelmaker’s market value has risen to ₹2.6 lakh crore as of now, after the company’s shares have risen by 18% this year so far.
JSW Steel also operates in the United States and Italy, along with its integrated steel plants in Vijayanagar, Dolvi, and Salem. The company is now the largest producer with a current capacity of 35.7 million tonnes (MT), with plans to increase this to 43.5 MT by FY28 and 51.5 MT by FY31. It produces flat and long steel products that are further used in automotive, construction and consumer durable sectors, making it a major force in the steel supply worldwide.
The brokerage firm Investec has put a ‘buy’ recommendation on JSW Steel with the target price of ₹1,100 per share based on the company’s strong growth prospects and attractive return ratio. Only 20 of 35 analysts have recommended a ‘buy,’ five have given a ‘hold,’ and 10 have given a ‘sell’ recommendation.
JSW Steel Limited currently is trading at ₹1,059.80, close to its 52-week high of ₹1,072. This makes the company’s robust expansion plan and market leadership in the industry to secure it as a global steel leader and grow in the next few years.
