INSUBCONTINENT EXCLUSIVE:
Goldman Sachs believes that it is time to buy JSW Steel again
The valuation of the stock has fallen below historical levels after correcting more than 20 per cent in the last six months, said Goldman
set by Goldman Sachs would mean a potential upside of 18 per cent from current levels.
Shares of JSW Steel have fallen 21.7 per cent in the
last six months, while the Sensex has fallen 9.6 per cent during the period.
Goldman believes that the stock corrected due to softening
domestic steel prices and expensive valuation.
Going forward, the stock is likely to rerate due to the possibility of limited downside in
upside, said Goldman Sachs.
