Shares of JSW Steel are close to all-time highs, and Morgan Stanley anticipates more growth.

With a target price of ₹1,300 per share, Morgan Stanley has reaffirmed its "Overweight" call on JSW Steel, suggesting an 11% potential increase from Friday's closing price of ₹1,167.80. Production exceeded projections, according to the brokerage, and JSW Vijayanagar Metallics ramped up smoothly, reaching 88% utilization in September. Additionally, it anticipates that sales volumes in India will increase by about 17% annually. According to Morgan Stanley, there will probably be some inventory stocking because one blast furnace in Vijayanagar will be shut down for 150 days starting in late September.