HSBC has started coverage on JSW Steel and Jindal Stainless with Buy ratings. The bank expects a multi-year demand upcycle driven by infrastructure and urbanization. It also reaffirmed a Buy rating on Tata Steel.
HSBC analysts have initiated coverage on two major Indian steel companies, assigning Buy ratings to JSW Steel and Jindal Stainless. They anticipate sustained demand growth over multiple years, propelled by infrastructure development and urbanization trends, as reported by The Economic Times. Price targets set by the bank suggest substantial upside potential for these stocks. The analysts also reiterated their Buy recommendation on Tata Steel, pointing to robust balance sheets and expected margin improvements as favorable factors for the sector. These tailwinds are seen as supportive amid broader industry dynamics. No specific price targets were detailed in the coverage initiation, but the outlook underscores positive momentum for steel producers in India. Investors are watching these developments closely as indicators of sector health.