JSW Steel registered an increase of 32% in its Q4 total sales to Rs 7,209.35 crore upon the robust domestic demand as well as continuous focus on retail sales. However, the net spending witnessed the bottom line of the company going up at a less-than-proportional rate.

JSW Steel’s Q4 (January-March) total profit went up by 30% to reach Rs 794 crore. According to the steel maker, an improved product-mix along with increased quantities was the main reason behind the strengthened performance of the company in the final quarter of the fiscal year 2010-11.

Mumbai, May 16 : Indian steel major JSW Steel Monday posted a 16 percent increase in its net profit at Rs. 832.66 crore for the quarter ended March 31 as against Rs. 716.95 crore during the like period of the previous fiscal.

The net sales rose 36 percent for the quarter under review at Rs. 7,032.07 crore as against Rs. 5,167.07 crore during the same period of the previous fiscal, the company said in a regulatory filing.

Technical analyst Prakash Gaba has maintained 'buy' rating on JSW Steel Limited stock to attain a target of Rs 1000 in 1-2 trading sessions.

According to analyst, the investors can buy the stock with trailing stop loss of Rs 970.

The stock of the company, on April 25, closed at Rs 978.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 84.93 and 11.44 respectively.

The share price has seen a 52-week high of Rs 1400 and a low of Rs 790 on BSE.

Technical analyst Nitin Murarka of SMC Global is bullish on JSW Steel Limited and has maintained 'hold' rating on the stock to achieve a short term target.

The analyst said that the stock can be purchased to achieve a target of Rs 1000-1050.

Mr. Murarka added that the interested investors can buy the stock with a stop loss of Rs 890.

Today, the stock of the company opened at Rs 905.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1400 and a low of Rs 790 on BSE.

Current EPS & P/E ratio stood at 84.93 and 10.81 respectively.

The leading steel firm JSW Steel has informed that there has been a remarkable growth in its crude steel production in the month of January.

The company has issued this statement in a press release today. It has said that, there has been a growth of almost 9% in its crude steel production in January against the same month in the previous year.

The overall crude steel production has gone up to 5.80-lakh tonnes in the month under review. Last year the company had produced 5.33-lakh tonnes for the similar month.

JSW Steel's standalone revenue at Rs58.1bn grew 26% YoY due to increased volume (up 12% YoY) and improved realisation (up 13% YoY) on better product mix and higher steel prices. However, adj. EBITDA at Rs10.1bn declined 2% YoY as operating cost/t rose 20% YoY on higher iron ore and coking coal cost. PAT at Rs3.8bn grew 18% YoY on lower interest and tax outgo.

JSW Steel has proposed to acquire, subject to approvals, 41.3% stake (post full dilution) in Ispat Industries, led by Pramod and Vinod Mittal, by equity infusion of Rs21.6bn (preferential allotment of 1.09bn equity shares at Rs19.85). Mandatory open offer to minority shareholders would follow. With this acquisition, JSW's capacity in India would increase to 11.1mntpa, and is set to reach 14.3mn tpa by FY11-end as 3.2mn tpa brownfield expansion in Karnataka gets commissioned.

Key highlights

JSW Steel Limited (JSWSL) is the second largest private sector steel maker in India. The company provides for a broad range of products which include Hot Rolled Product, Cold Rolled Product, Galvanized Product and Pre-painted Galvanized Product. The company consists of the most modern, eco-friendly steel plants with the latest technologies for both upstream & downstream processes.

KEY INVESTMENT RATIONALE:

Technical analyst Kiran Jadhav has maintained 'hold' rating on JSW Steel Limited with a two-day target of Rs 1190.

The analyst said that the stock can be bought with a stop loss of Rs 1100.

Today, the stock of the company opened at Rs 1132.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1400 and a low of Rs 950 on BSE.

Current EPS & P/E ratio stood 108.36 and 10.60 respectively.

The company announced that it will lift up INR 462 crore via issue of securities to Japan's JFE Steel Corp.

While the third largest steel producer in the country, JSW Steel has recently said that it will be considering an option of setting up a new plant, it also highlighted that it will come up in association with the JFE Holdings for the high-grade electrical steel.

It is expected that the new unit will be meeting the rising demand for specialty alloys. It is to be mentioned here that the project announced by the company will be developed jointly with Japan's second-largest steelmaker.

Moreover, the company may finalize the location near JSW`s factory at Vasind in the western state of Maharashtra.

It has been learned from the sources that JFE, the world's fifth-biggest steelmaker will be picking up a stake in the home-grown steel producer JSW Steel. It is believed that if the deal gets through, the Sajjan Jindal-controlled company will be able to lure lucrative auto clients of the Japanese firm to the Indian company's fold.

It is to be mentioned here that the domestic steel maker has made a comeback from the brink of bankruptcy after it was facing a situation of high burden of interest on its books.

India's largest steel manufacturer, JSW Steel has asked for a complete ban on the export of iron-ore, which is key raw material in steel.

The company has said that the ban should be implemented in a phased manner which should be done in nothing less than five years time.

While announcing the results of the company, Chairman and Managing Director Sajjan Jindal said, "Iron ore exports should be gradually banned. I would say that there should be a calibrated approach towards banning it, say in next five years bring down export of iron ore to zero."

Stock market analyst D Prasad is of the view that investors can buy JSW Steel Ltd stock to achieve a short term target of Rs 1225.

According to analyst, the interested investors can buy the stock on dips with stop loss of Rs 1144.

Today, the shares of the company opened at Rs 1172 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1350.05 and a low of Rs 605 on BSE.

Current EPS & P/E ratio stood at 108.15 and 10.99 respectively.

JSW Steel, India's second biggest steel manufacturer, announced that its crude steel production surged 14% at 1.574 million tonnes (mt) in the three month period ended June 2010 (April-June) as against the same period of last year.

The production of flat rolled products increased 26% at 1.093 mt and production of long rolled products grew 71% to 0.309 mt in the first quarter.

The company said, ''The commissioning of 6.6 million tonne per annum (mtpa) expansion project with 3.5 mtpa new hot strip mill at Vijayanagar works in the last financial year enabled the company to achieve higher production.''

Stock market analyst Anil Singhvi has maintained 'buy' rating on JSW Steel Ltd stock with intra-day target of Rs 1100.

According to analyst, the investors can buy the stock with stop loss of Rs 1050.

The shares of the company, on June 28, closed at Rs 1062.75 on the Bombay Stock Exchange (BSE).

Current EPS and P/E ratio of the stock stood at 108.15 & 9.88 respectively. The share price has seen a 52-week high of Rs 1350.05 and a low of Rs 495.15 on BSE.

JSW Steel, on June 21, announced that it has launched its fourth JSW Shoppe outlet in Hyderabad.

Stock market analyst Avinash Gorakshakar is of the view that investors can buy JSW Steel Ltd stock to achieve a target of Rs 1470.

According to analyst, it is fundamentally a strong counter.

Today, the shares of the company opened at Rs 1092 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1350.05 and a low of Rs 495.15 on BSE.

Current EPS & P/E ratio stood at 108.15 and 9.99 respectively.

JSW Steel stated that it has lifted around Rs 1,849 crore by issuing warrants to a promoter group company, mainly to slash down its widening arrears.

Technical Analyst PK Agarwal of Purpleline Investment has maintained 'hold' rating on JSW Steel Ltd stock to achieve a medium term target.

According to analyst, the investors can exit on a rally to around Rs 1100.

Today, the stock opened at Rs 1052 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1350 and a low of Rs 495.15 on BSE.

Current EPS & P/E ratio stood at 108.15 and 9.54 respectively.

JSW Steel Ltd, on May 25, may consider slashing rates of flat steel items by the coming month owing to declining global steel prices.

Company Overview

On Monday, Indian steel company, JSW Steel said that the net profit for the company is Rs. 611 crore. This was for the fourth quarter ending March 31, 2010.

This is good news since during the same quarter last year, it saw a huge loss of Rs. 39.9 crore. The information was given by JSW Steel in its filing with the BSE.

Total income of the steel maker rose to Rs 5,577 crore as against Rs 3,719 crore, during the same period last year.

The board also declared a dividend of 95 per cent or Rs. 9.50 per share, with a face value of Rs. 10. It currently has 18.70 crore shares in the market.

India’s leading steel company JSW Steel has planned to buy the Bramhani Industries Ltd. of Karnataka. JSW Steel is India’s third-largest steelmaker. Currently, it is looking forward to buy a controlling stake in Bramhani Industries Ltd.

The Karnataka based company is floated by state tourism minister G Janardhan Reddy and his brothers. However there has not been any official announcement from both the companies.