Fundamental & Technical Outlook of JINDAL STEEL

Fundamental Outlook Jindal Steel Ltd. (

) is a leading integrated steel producer with a diversified portfolio of flat and long steel products, increasingly focused on value-added steel, which contributed around 64% of revenue in FY24. With 9.6 MTPA liquid steel and 7.25 MTPA finished steel capacity, the company is pursuing a ₹31,000 crore expansion targeting 15.9 MTPA liquid steel and 13.75 MTPA finished steel capacity, supported by raw-material integration and renewable-energy initiatives. While moderate leverage at 0.44x debt-to-equity provides financial flexibility, current returns remain subdued at 8.2% ROE and 9.7% ROCE. At 38.6x P/E versus 17x for the industry, valuation remains demanding, making capacity ramp-up, execution and margin improvement key to the investment case. Technical Outlook Daily: Strong recovery from ₹1,020–1,050 with higher highs and higher lows. Price at ₹1,177 is approaching ₹1,200–1,220 resistance; a breakout with volume can target ₹1,280–1,300. Weekly: Structure remains bullish, with the rising trendline holding well. ₹1,120–1,140 is the immediate support, while ₹1,200–1,300 remains the major supply zone. Monthly: Long-term trend remains positive within the ascending channel. A decisive breakout above ₹1,300 would strengthen the setup and could open ₹1,400+. Overall: Bullish bias, but avoid chasing near resistance. Better risk-reward lies around ₹1,120–1,160 or on a confirmed ₹1,220 breakout. I have attached the equity research report of JINDALSTEL for your reference below.