Dam capital initiates coverage on Jindal Stainless with 'buy' rating, target price of Rs 760

DAM Capital has initiated coverage on Jindal Stainless Limited (JDSL) with a 'buy' rating, setting a target price of ₹760, which indicates a potential upside of 28% from the stock’s current levels. The brokerage firm shared its optimistic outlook in a report released on Tuesday, March 25, 2025.

The report highlights a projected 21% EBITDA CAGR (Compound Annual Growth Rate) for Jindal Stainless over the FY25-27E period, driven by expected volume growth and spread expansion. DAM Capital attributes this growth potential to the company’s strong position in the stainless steel market and its ability to capitalize on improving market dynamics.

Despite acknowledging near-term challenges, particularly due to weak export markets in Europe, the brokerage remains confident that these headwinds are temporary. The report suggests that Jindal Stainless is well-poised to navigate these challenges and benefit from a recovery in global demand in the coming years.

Jindal Stainless, one of India’s leading stainless steel manufacturers, produces a wide range of products, including slabs, hot rolled coils, cold rolled coils, and plates, catering to industries such as automotive, construction, and consumer durables. The company has been focusing on operational efficiency and capacity expansion to strengthen its market position.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a qualified financial advisor before making any investment decisions.