JSW Steel, Jindal Stainless, Hindalco: Metal Stocks Catch Investors' Eye Today

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Metal Stocks JSW Steel, Jindal Stainless, Hindalco on Investors' Radar Today

Metal Stocks JSW Steel, Jindal Stainless, Hindalco on Investors' Radar Today

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CNBC TV18•16-03-2026, 08:48

Metal Stocks JSW Steel, Jindal Stainless, Hindalco on Investors' Radar Today

•JSW Steel plans to develop a coking coal mine in Mozambique with estimated reserves of 850 million tonnes.
•Jindal Stainless operates at rationalised capacity due to constraints in industrial gas availability (propane, LPG, natural gas).
•Jindal Stainless faces pressure on supply chains and margins from global shipping route disruptions causing delays.
•Promoter group of Jindal Stainless purchased 6.92 lakh shares of the company on March 11 and March 12, 2026.
•Hindalco Industries clarified its aluminum extrusions operations are not halted, with potential supply disruption affecting less than 0.1% of overall operations.

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JSW Steel | The company has become India's largest steel producer after having rapidly expanded its capacity from 8 MTPA in FY10 to 34 MTPA in FY25. It also has plans to raise it to 42 MTPA by September-2027, led by a 5 MTPA Dolvi expansion and de-bottlenecking. Expansions are also planned in Andhra Pradesh with an aim to take the capacity to 50 MTPA by financial year 2031. Jefferies said that India flat steel spot prices may see further improvement as Asian spreads bounce back. JSW Steel's EBITDA per tonne may expand to ₹8,500 in the December quarter to ₹11,600 in the March quarter and then to ₹14,000 by financial year 2027-2028, Jefferies said. Price target of ₹1,400 implies a premium to Tata Steel considering the former's higher India exposure, higher EBITDA sensitivity to rising steel prices and the absence of any mine-related overhang after 2030.

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