Nomura Remains Bullish on Indian Steel: Initiates Buy on JSW Steel and JSPL
Nomura sees Indian steel producers in a favorable position, supported by strong financials and market conditions. Return on Equity (ROE) for steel companies is higher now compared to previous market downturns. Steel producers are reducing their debt, strengthening balance sheets. Rising domestic demand is lowering the reliance on exports for Indian steel companies. Return on […]
Nomura sees Indian steel producers in a favorable position, supported by strong financials and market conditions.
Return on Equity (ROE) for steel companies is higher now compared to previous market downturns.
Steel producers are reducing their debt, strengthening balance sheets.
Rising domestic demand is lowering the reliance on exports for Indian steel companies.
Return on Capital Employed (ROCE) is improving due to brownfield expansions, increasing profitability.
Monetary easing globally supports higher valuations for steel stocks.
Nomura remains optimistic about Indian steel companies’ performance.
Cost-saving measures and a cyclical market recovery are benefiting steel producers.
Nomura initiates a “Buy” on JSW Steel with a target price of Rs 1220 and JSPL at Rs 1200.
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