Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
JSW Steel Emerges as Macquarie’s Top Pick Amid Indian Steel Sector Growth
India’s steel sector is experiencing strong momentum, and global investment firm Macquarie has highlighted JSW Steel as its preferred stock. This comes as the industry benefits from rising domestic demand, capacity growth, and favorable market conditions.
Domestic steel consumption in India reached 119 million tonnes in FY2023, supported by large-scale infrastructure projects like GatiShakti and affordable housing schemes. This demand is expected to grow at 6–7% annually through FY2028.
To capitalize on this, JSW Steel is expanding its capacity from 29.7 million tonnes per annum (MTPA) to 38.5 MTPA by FY2025. The company’s focus on brownfield projects ensures faster, cost-effective growth.
Macquarie has upgraded JSW Steel to “outperform” and raised its target price to ₹1,077, citing its scale, low production costs, and efficient capital management. Falling input costs and a reduction in net debt further strengthen its position.
Importantly, JSW Steel is also leading in sustainability. The company is investing in green technologies like electric arc furnaces and exploring hydrogen-based steelmaking, aligning with global ESG trends.
With its strategic expansion, strong financials, and commitment to innovation, JSW Steel stands out as a key player in India’s steel sector resurgence.
Also Read : Suzlon gets 103-MW order from AMPIN Energy Transition Woodfield Systems to invest $100 mn for manufacturing in India
According to Union Minister Jyotiraditya Scindia, the government's goal is to raise the proportion o...
Raw Material 25-Jan-2024
ArcelorMittal, a global steelmaker is aiming to introduce a premium on new European contracts for hi...
Large Corporate 20-Mar-2024
The Vizag Steel Plant is facing financial troubles and a serious coal shortage. The government, Disc...
Ferrous 22-Mar-2024
Major infrastructure Larsen and Toubro (L&T) has bagged crucial order to construct a grid-connec...
Large Corporate 24-Jun-2024
Tokyo Steel Manufacturing, Japan's leading electric-arc furnace steelmaker, announced a price increa...
Asia 22-Jan-2024
China has swiftly and significantly increased its dominance in the Indian steel import market, captu...
Business 02-Sep-2024