JSW Steel: SEBI RA Sameer Pande Sees Potential Breakout Above ₹1,080

India’s leading steelmaker, JSW Steel, posted a net profit of ₹1,503 crore for the March quarter, a 16% year-on-year (YoY) rise, despite a 3% drop in revenue from operations to ₹44,819 crore. 

The company’s strong operating discipline helped boost EBITDA by 4% to ₹6,378 crore, with margins improving to 14.2%.

SEBI-registered analyst Sameer Pande points to technical strength in the stock’s monthly chart, with RSI at 61 and a notable demand zone between ₹950 and ₹890.

Pande notes that a decisive breakout above the ₹1,080 level could signal further growth potential for the stock. 

However, at the time of writing, the stock was down nearly 1%.

JSW Steel is also planning to raise ₹14,000 crore to fund its next phase of growth, reinforcing its long-term strategy even as macroeconomic headwinds persist.

Meanwhile, the Supreme Court is set to hear JSW Steel’s plea on the Bhushan Power & Steel (BPSL) case on Monday. 

The company is seeking a review of the court’s earlier ruling that nullified its ₹19,300 crore resolution plan. 

Despite the legal overhang, JSW Steel shares are up 11% year-to-date, though retail sentiment currently trends ‘bearish’ on the counter, according to data from Stocktwits.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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