Buy Jindal Steel and Power; target of Rs 555: Prabhudas Lilladher

#Buy, Jindal Steel and Power, #Prabhudas Lilladher, #Recommendations, click here

Prabhudas Lilladher’s research report on Jindal Steel and Power

Domestic steel stocks have been under pressure due to 2x increase in coking coal prices, negative sentiments on Chinese demand and 50% fall in iron ore prices. Strong steel prices and lower costs benefitted the Ferrous sector over last 18-months with record earnings and near 40% fall in debt levels. However, JSP was able to make the most with ramp-up of its Angul plant after a long wait as utilisation rate increased from average 70% to 90%+. Production till FY20 was impacted due to coal quality issues (for coal gasifier based DRI capacity) and weak financial condition resulting in delay of Blast furnace (BF) integrated commissioning. Led by high operating leverage and structurally better spreads, we expect JSP’s sustainable EBITDA/t’s trajectory to expand by 20% to Rs12,000 (Q2FY22/FY22e: Rs21,200/Rs20,000) in FY23e over FY16-FY20 average.

Outlook

Given the pure play on domestic long steel, strong B/S (Net debt/EBITDA<0.5x) and attractive valuations (EV/EBITDA<4x), we reiterate BUY rating with TP of Rs 555 based on EV/EBITDA of 6.0x FY23e.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

News Related

OTHER NEWS

UK to lift travel test requirements for the vaccinated

The Associated PressWorkers walk over London Bridge towards the City of London financial district during the morning rush hour, in London, Monday, Jan. 24, 2022. The British government have asked ... Read more »

Budget Session: Different timings for Lok Sabha, Rajya Sabha in view of Covid

Representative Image Lok Sabha and Rajya Sabha will meet at separate times of a day for five hours each to ensure Covid distancing norms during the Budget Session beginning January ... Read more »

Russian gas transit to Poland suspended from January 19 — operator

Gas transit via Drozdovichi gas metering station stood at 3.77 mln cubic meters on January 17 Read more »

Kohl's confirms approach about potential acquisition

The Associated PressA pair of shoppers arrive at a Kohl’s, Nov. 26, 2021, in Everett, Mass. Kohl’s Corp. is confirming that it received letters expressing interest in acquiring the department ... Read more »

What's driving the spike in air rage incidents

There were more than 5,700 reports of air rage on U.S. airlines in 2021 compared with a typical year of about 100 to 150 cases. The surge in problem flyers ... Read more »

What makes thecryptocurrency market so volatile?

The price of Bitcoin has been fluctuating drastically in the recent years sometimes it rises as high as $65,000 and sometimes it drops down to $30,000. Additionally, most other famous ... Read more »

CCI imposes penalty on four maritime transport companies for cartelisation

CCI passed this order on the basis of available evidence which revealed that there was an agreement between NYK Line, K-Line, MOL and NMCC with the objective of enforcement of ... Read more »

Tips to guide you withyour first cryptocurrency investment

Digital currency has turned into an inexorably famous venture resource for investors. Regardless of its instability, investors seem quick to get on board with the crypto fleeting trend. The justification ... Read more »

Best Crypto Exchange 2022

Because of the mind-boggling development in digital money exchanging, more individuals than any time in recent memory are searching for the best crypto trade to collaborate with to contribute viably. ... Read more »

Figuring out Bitcoin

Bitcoin is Digital Money Indeed! In the same way as other different sorts of cash like the yuan, the dollar, the euro, and the ruble, Bitcoin is genuine cash. It ... Read more »

How to Invest in Cryptocurrency

Digital currency has moved into the standard as a speculation resource class. Assuming you’re hoping to add some to your portfolio, it could be hard to sort out some way ... Read more »

Importance of affiliate marketing

A lot of benefits for e-commerce businesses can be provided through Affiliate marketing. As per ongoing examinations, 81% of brands depend on affiliate connections since they include next to no ... Read more »

Top benefits of performance marketing

Performance marketingis a presentation-based type of paid promoting and publicizing where a business just pays once an ideal activity is accomplished. These activities – settled upon by the business and ... Read more »

Morgan Stanley CEO James Gorman edges past Jamie Dimon with $35M payday

Morgan Stanley CEO James Gorman’s compensation hit a new high in 2021. Bloomberg via Getty Images Morgan Stanley CEO James Gorman raked in $35 million in total compensation last year ... Read more »

3 reasons to invest in COVID test manufacturer Abbott Laboratories

When it comes to underrated healthcare stocks that smart investors love, Abbott Laboratories(NYSE: ABT) takes the cake. While it might not seem as exciting as its similarly-sized peers in pharma ... Read more »

Gas reserves record low in European, Ukrainian UGS — Gazprom

As of January 22, the active gas volume in European storages was 26% lower than last year Read more »

Gazprom registers new daily record of gas supplies to China

Earlier, it was reported that Russian gas supplies to China during the first half of January were 1.5 times higher than the figure in the like period of the last year Read more »

Importance of crypto

A couple of years prior, in the event that you had referenced the expression “digital money” as far as I might be concerned, I would have envisioned cash of some ... Read more »

Guide for cryptocurrency

What is cryptocurrency? A digital currency (or “crypto”) is a type of payment that can course without the requirement for a focal financial authority like an administration or bank. Empowering ... Read more »

A small guide for cryptocurrency trading for beginners

What is Cryptocurrency Trading? Prior to getting straightforwardly to digital money exchanging, let us comprehend the significance of trading. Exchanging can be characterized as the conservative idea of trading resources. ... Read more »

How will the future business be transformed forever through cryptocurrency?

On the off chance that you haven’t exactly yet gotten used to the possibility of digital money, you are following some great people’s example. Just an expected 15% of Americans ... Read more »

ACM fines Apple 5 million euros in App Store case

Apple does not meet the requirements set by the Dutch Authority for Consumers and Markets (ACM) in a decision on the App Store case. The company will therefore receive a ... Read more »

Future of cryptocurrency

Cryptographic money has turned into a worldwide phenomenon lately, albeit a lot is still to be found out with regards to this developing innovation. There are many worries and stresses ... Read more »

About Bitcoin and it's working

Working liberated from the oversight of banks or any focal control or state run administrations, Bitcoin is an advanced cash. It rather depends on cryptographyandshared programming. Copies of Bitcoin transactions ... Read more »

Inflation could lead Fed to hike rates more than 4 times in 2022: Goldman Sachs

Fed Chair Jerome Powell acknowledged the likelihood of several rate hikes. Graeme Jennings-Pool/Getty Images The Federal Reserve could hike interest rates more times than expected this year as it aims ... Read more »

Advantages of bitcoin trading

Bitcoin (BTC) is a digital currency and an inventive installment network that was enrolled right after the 2008-09 emergency. Computerized money offers a few advantages, for example, lightning-quick exchanges and ... Read more »

Predictions for cryptocurrency in 2022

Cryptographic money has blast in ubiquity throughout the course of recent years, to the point that the elective venture class has basically gone standard. While Bitcoin was the first and ... Read more »

Bitcoin vs. Ethereum

It’s nothing unexpected that investors are keen on cryptographic forms of money. Bitcoin (BTC), the first in the resource class, was the single best-performing standard interest somewhat recently, and its ... Read more »

DDMA meet on January 27 likely to decide on weekend curfew, odd-even rule for opening shops in Delhi

Representative image Amid demands of lifting weekend curfew and odd-even system of opening shops by traders as well as the AAP and the BJP, Delhi’s apex COVID-19 management body DDMA ... Read more »

NFT collector Crypto Sauga launches 10,000 digital assets on WazirX NFT marketplace

Representational image. [Image: Shutterstock] CryptoSauga Star Club (CSS), a platform offering non-fungible tokens (NFTs), on January 24 announced a drop of 10,000 digital artworks on WazirX NFT marketplace. CSS is a project by ... Read more »

UK to scrap COVID tests for fully vaccinated travellers

Punjab Chief Minister Charanjit Singh Channi has appealed to people to get themselves vaccinated against COVID-19 at the earliest. (Representative image) Fully vaccinated travellers entering England will soon be exempt ... Read more »

Benefits of Using Apps in Crypto Trading

Cell phones have made some amazing progress, from gadgets that could settle on decisions and send instant messages to undeniable regular registering machines with applications and brilliant availability. With the ... Read more »

Strategies for Day Trading Cryptocurrency

The expression “informal investor” comes from the financial exchange, where exchanges commonly just occur during normal business hours on non-weekend days. One outstanding contrast when day-exchanging cryptographic money is that ... Read more »

Benefits of Review Websites

Assuming you are betting aficionado, you need to stake the cash in the best gambling club site. Be that as it may, realizing the best is difficult as we might ... Read more »

Reports about reducing gas supplies to EU amid sanctions are ‘fake hysteria' — Kremlin

In the most difficult moments of confrontation between East and West, Russia flawlessly fulfilled its contractual obligations, Dmitry Peskov recalled Read more »

Sonia, Manmohan Singh, Rahul Gandhi, Ghulam Nabi Azad among Congress star campaigners for first-phase poll in UP

Sonia Gandhi and Rahul Gandhi at a party briefing. (File image: Reuters) The Congress on Monday released its list of 30 star campaigners for the first-phase assembly election in Utar ... Read more »

Dutch regulator fines Apple €5m in dispute over dating app payment rules

Photo: Depositphotos.com Dutch consumers authority ACM has fined tech giant Apple €5m for failing to meet its requirements on payment systems for dating apps, which limit makers to using Apple’s ... Read more »

No assessment for capital in box 3 for the time being

The Tax and Customs Administration does not impose an assessment on people who have assets in box 3 ‘until further notice’. Due to a recent decision of the Supreme Court, ... Read more »

National Restaurant Association asks Congress for more grant money as omicron hits industry

People dine at an outdoor dining patio set up at a restaurant on March 18, 2021 in New York City.Angela Weiss | AFP | Getty Images The National Restaurant Association ... Read more »

Delhi slashes number of dry days to 3, down from 21 earlier

The Delhi government under its new excise policy has reduced the number of dry days to just three from 21 last year, according to an official order issued on Monday. ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic