HSBC assigns a 'Buy' to JSW Steel, Jindal Stainless

ET BureauLast Updated: Apr 29, 2026, 05:38:00 AM IST

Synopsis

HSBC has initiated coverage on JSW Steel and Jindal Stainless with Buy ratings, anticipating a multi-year demand upcycle fueled by infrastructure and urbanization. The bank also reiterated a Buy on Tata Steel, highlighting strong balance sheets and margin expansion as key sector tailwinds, with price targets implying significant upside.

Mumbai: HSBC has initiated coverage on JSW Steel and Jindal Stainless with Buy ratings, and on Jindal Steel and Power with a Hold, citing a multi-year demand upcycle driven by infrastructure and urbanisation.

Agencies

keeps a buy on tata steel

It has also reiterated a Buy on Tata Steel, underscoring strong balance sheets, import protection and margin expansion as key sector tailwinds. The price targets on JSW Steel, Tata Steel and Jindal Stainless imply an upside of 13-19% from Tuesday's closing prices.

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