Jindal Steel and Power: JSPL stock to outperform peers amid falling debt and rising steel demand

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Steel costs in India have risen quickly and are commerce almost 50% larger year-on-year at Rs 58,000-Rs 60,000 per tonne or $800 per tonne whereas world costs are above $1,000 per tonne.

Synopsis

The sale of Oman belongings is probably going to cut back the debt by Rs 5,400 crore. This along with sturdy inside accruals owing to larger steel costs and gross sales quantity might end in Rs 22,000 crore of debt for FY21 in contrast with Rs 35,900 crore within the earlier fiscal yr.

ET Intelligence Group: The stock of Jindal Steel and Power (JSPL) has outperformed peers together with Tata Steel and SAIL over the previous month following a sustained development in world steel demand. This is anticipated to proceed given the completion of the sale of its steel belongings in Oman, is anticipated to strengthen its steadiness sheet additional by decreasing debt and enhancing money circulation.

The sale of Oman belongings is probably going to cut back the debt by Rs 5,400 crore.

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