JSW Steel Share Price is going to rise tremendously after Rs 957, know what the market view says
JSW Steel’s share price is a focal point for investors as it reflects the company’s performance amidst fluctuating market conditions. As of the latest updates, the stock is trading at approximately ₹948.40, marking a decline of about 0.87% from the previous day’s closing price of ₹964.25. This decline comes after a series of modest fluctuations in the stock’s value over recent weeks, highlighting both the volatility and resilience of JSW Steel in the competitive steel market.
Main Points
JSW Steel has been experiencing a mixed trading session, with its price showing minor dips despite a robust return over the past year. The stock’s performance over the last three months indicates a commendable return of around 4.56%, showcasing its potential for growth even in challenging market conditions. The latest figures reveal that the stock’s recent trading activity reflects a total volume of approximately 644,373 shares exchanged, which is significantly lower than the average volume of 1,864,717 shares recorded over the past week.
The company’s market capitalization stands at ₹233,956.6 crore, with a price-to-earnings (P/E) ratio of approximately 32.41 and a price-to-book (P/B) ratio of 2.92. These metrics suggest that while the stock may be slightly overvalued compared to its book value, it remains an attractive option for long-term investors due to its strong operational revenue and consistent performance.
Over the past few weeks, JSW Steel’s share price has shown some volatility, with fluctuations influenced by broader market trends and sector-specific dynamics. The stock hit a high of ₹978.55 and a low of ₹723.00 in the past year, indicating significant price movements that investors should consider when evaluating their portfolios.
The recent trading sessions have seen minor corrections in price, which could be attributed to profit-taking by investors after substantial gains earlier in the year. Despite these fluctuations, analysts recommend maintaining a “hold” rating on JSW Steel shares, suggesting that while immediate gains may be limited, the long-term outlook remains positive due to expected growth in demand for steel products.
- Current Share Price: ₹948.40
- Market Capitalization: ₹233,956.6 crore
- P/E Ratio: 32.41
- P/B Ratio: 2.92
- 52-Week High/Low: ₹978.55 / ₹723.00
- Recent Volume: 644,373 shares traded
Investors are advised to keep an eye on the stock’s performance relative to key moving averages. For instance, the seven-day exponential moving average (EMA) stands at ₹920.54, indicating potential upward momentum if prices stabilize above this level.
The broader steel industry has faced challenges recently due to fluctuating demand and rising input costs. However, JSW Steel has managed to maintain its position as one of India’s leading steel producers by focusing on operational efficiency and expanding its product offerings. The company reported an annual revenue growth of approximately 9%, which is considered healthy in the current economic climate.
Additionally, institutional interest in JSW Steel has been increasing, with domestic institutional investors raising their holdings from 9.79% to 10.46% in recent quarters. This trend indicates growing confidence among institutional players regarding the company’s future prospects.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
