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These Four Steel Stocks Could Give 12-42% Returns, Says DAM Capital
Indian steel mills are in a bright spot as new capacities are set to come online, according to DAM Capital. The brokerage expects volumes of JSW Steel, Tata Steel, Jindal Steel & Power and Steel Authority of India to grow by 36%, 21%, 69% and 5%, respectively, over fiscal 2024-27.
It expects leverage ratios of Indian mills to trend down meaningfully, and the sector to benefit from high demand.
Furthermore, given current Chinese steel prices, there is a stronger case for India to enable import protection against rising Chinese steel imports, the brokerage said.