BUZZ-India's JSW Steel rises on quarterly profit beat

Reuters01-27
BUZZ-India's JSW Steel rises on quarterly profit beat

** JSW Steel JSTL.NS shares up nearly 3% at 1,207 rupees

** Nifty Metal index .NIFTYMET up 2%

** Steel manufacturer's Q3 profit tops analysts' average estimate

** Systematix ("Hold"; PT: 1,162 rupees) says incremental levers such as BPSL-JFE JV, Mozambique coking coal acquisition and ongoing deleveraging are structurally positive for cash flows and return ratios in the medium term

** Jefferies ("Buy"; PT:1,169.35 rupees) expects strong sequential improvement ahead with rising prices and potential for Asian steelmaking margins to recover from a 15-year low

** Stock rated "Buy" on average by 30 analysts; median PT at 1,275 rupees - data compiled by LSEG

** In 2025, JSTL and sub-index rose nearly 29%

($1 = 91.7500 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

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