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Jindal Steel and Power (Citi) Buy: Fundamentally Still Robust |
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Near-term execution delays are surmountable
Maintain Buy
TP cut to Rs650
FY12/FY13 EPS reduced by 13%/11%
Overseas ventures provide optionality | Date | Rating | Target Price | Recommendation Price | Broker house | | 4 Aug 2011 | buy | 650 (from 726) | 544 | Citi Report | |
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Jindal Steel and Power (Citi) 1QFY12: Steel Volumes Disappoint |
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1QFY12 PAT 11% below est.;Standalone PAT disappoints;Lower tariffs impact JPL;Global operations;Maintain Buy | Date | Rating | Target Price | Recommendation Price | Broker house | | 28 Jul 2011 | buy | 726 | 620 | Citi Report | |
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Jindal Steel and Power (Citi) Executing On Multiple Fronts |
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Draft Mining Bill impact;JPL projects – Could be delayed slightly;JSPL projects progressing well;Press reports indicate Jindal Power's IPO plans have been revived;Maintain Buy | Date | Rating | Target Price | Recommendation Price | Broker house | | 20 Jul 2011 | buy | 726 | 636 | Citi Report | |
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Jindal Steel and Power (Deutsche Bank) update.2011.Jul.4 |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 4 Jul 2011 | buy;(Initiation) | 800 | 650 | Deutsche Bank Report | |
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Jindal Steel and power (credit suisse) Encouraging progress in overseas resources offsets weakness in Indian outlook |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 3 Jun 2011 | out perform | 760 (from 810) | 649 | credit suisse Report | |
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jindal steel and power (Citi) Upgrade to Buy: The Power of Steel |
Upgrade to Buy (1L) from Hold (2L), Top pick in conglomerates; Hedged business model (though tilted towards power) implies low risk, moderate returns; Target price and earnings revision
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 5 May 2011 |
buy |
726 (from 676) |
615 |
Citi Report |
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jindal steel and power (Citi) 4QFY11 Weighted Down by Logistical Issues |
4QFY11 PAT ~12% below estimate; Operationally, in-line quarter; Jindal Power reported in line numbers; Angul project execution continues; Rocklands Richfields acquisition; Maintain Hold
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 21 Apr 2011 |
hold |
676 |
693 |
Citi Report |
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Reports.DesiStockResearch.com |
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jindal steel power (MorganStanley) Benign Industry Dynamics, Coming Company Milestones |
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 8 Apr 2011 |
overweight |
833 (from 799) |
-- |
MorganStanley Report |
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Reports.DesiStockResearch.com |
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jindal steel power (HSBC) Budget 2012: Iron ore export taxes increased; negative for ore exporters, positive for Indian ore buyers |
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 1 Mar 2011 |
ow |
770 |
658 |
HSBC Report |
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Reports.DesiStockResearch.com |
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jindal steel and power (MorganStanley) Lower Prices, Delay in Power; Reduce PT but Remain OW |
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 25 Jan 2011 |
overweight |
799 |
688 |
MorganStanley Report |
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Reports.DesiStockResearch.com |
