Buy JSW Steel With Stop Loss Of Rs 1144

Buy JSW Steel With Stop Loss Of Rs 1144Stock 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.

In its crude steel production, JSW Steel has recorded an increase of 14% during the three month period ended June 2010 as against the same period last year.

During the period under review, JSW Steel created 1.57 million tonnes of crude steel.

Besides, the company's flat steel production grew by 26% to 1.09 million tones as against the same period of last year.

In a statement, 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."

During FY10, JSW Steel recorded sales worth Rs 1,831.4 crore whereas net profit was Rs 202.27 crore.