JSW Steel Ltd up by 9.25 percent | Espresso

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Espresso shot of the day – JSW Steel Ltd up by 9.25 percent

April 08, 2021
Espresso shot of the day – JSW Steel Ltd up by 9.25 percent

JSW STEEL LTD 614.30 (+9.25%) BSE – INE019A01038| 8TH APRIL 2021

Amongst the leading conglomerates in India, JSW Group is a $12 billion company. It is an integral part of the O. P. Jindal Group, and has been a part of major projects that have played a key role in India’s growth. Ranked among India's top business houses, JSW Group’s innovative and sustainable ideas cater to the core sectors of Steel, Energy, Cement and Infrastructure. The Group continues to strive for excellence with its strength, differentiated product mix, state-of-the-art technology, excellence in execution and focus on sustainability. From its humble beginnings in steel, the JSW Group has expanded its presence across India, South America, South Africa & Europe. Through its CSR projects, it also continues to participate in and initiate activities that assist in improving those areas of our country that lack resources. JSW Group is known to be the “strategic first mover” to venture away from status quo, have the conviction to make fundamental changes and drive operational excellence on its quest to become better everyday.

Recent Drivers

  • JSW Steel Ltd. production jumped 6% to 4.19 million tonnes (MT) in Q4 FY21 from 3.97 million tonnes (MT) in Q4 FY20.
  • JSW Steel Ltd. is consolidating its business to increase the share of downstream and speciality steel used by auto to infrastructure sectors, according to Managing Director Seshagiri Rao.
  • The company recently completed the acquisition of Welspun Corp business and insolvent Bhushan Power and Steel Ltd expects downstream and speciality steel to contribute more than 55% of its volume compared with 50% now.
  • On April 1, company has commenced production of hot-rolled plates from the new 5 MTPA hot strip mill facility at its Dolvi Works. The company is in process to double its capacity to 10 MTPA with an investment of about Rs 15,000 crores.
(Sources: Business Standards, Moneycontrol, Bloomberg Quint)

Technical Force*

  • S&P BSE 100 month till date gain up by 1.51%
  • Spurts in volume by more than 4.73 times compares to previous vol. 3 months avg. qty – 5,81,855
  • Traded on new 52 Week High Value 638.90
  • Quantity traded 32,87,994 Deliverable quantity 6,57,982 (20.01%)
  • Stock price has jumped more than 310% from one year low level – 152.40, 24 April 2020
  • Daily RSI(14) is in overbought territory today
  • 52 -week high –638.90 | 52- week low- 152.40

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

737.78

565.77

476.53

304.52

215.28

43.27

-

-

Fibonacci Pivot

565.77

465.97

404.31

364.60

304.52

244.43

204.72

143.06

43.27


Today’s Close

614.30

SMA

BSE

10 DAY

499.61

20 DAY

462.99

50 DAY

426.43

200 DAY

300.76

Some Key Ratios (Source: BSE)

Market Cap: 1,48,489.85 crores

PE: 32.16

OPM%: 25.59

ROE%: 11.59

Promoters holding : 44.07

Prev. Close: 562.30

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.