Buy JSW Steel, target price Rs 328: Motilal Oswal

Motilal Oswal has given a buy rating to JSW Steel with a target price of Rs 328. The share price moved up by 0.13 per cent from its previous close of Rs 310.90 . The stock’s last traded price is Rs 311.

JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 75223.90 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 11454.00 Crore, down 34.76 % from last quarter Sales of Rs 17556.00 Crore and down 40.98 % from last year same quarter Sales of Rs 19407.00 Crore. Company reported net profit after tax of Rs -529.00 Crore in latest quarter.

Investment Rationale
Price-volume consolidation breakout along with momentum in the entire metals sector

Promoter/FII Holdings
Promoters held 60.48 per cent stake in the company as of March 31, 2020, while FIIs held 13.40 per cent, DIIs 12.35 per cent and public and others 13.77 per cent.