JSW Steel Share Price: 21.5% CAGR in 3 Years as the Steel Major Compares With Hindalco and Tata Steel
- November 13, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
JSW Steel Share Price: 21.5% CAGR in 3 Years as the Steel Major Compares With Hindalco and Tata Steel
JSW Steel previous close Rs 1,352.10. 3-year CAGR 21.5%. Up 1.8x since 10 Nov 2023. ROE 11.86%. Market cap Rs 3,31,114 crore.
Quick Answer
The JSW Steel share price closed at Rs 1,352.10 on 12 November 2026, a compounded annual return of 21.5% over three years. That compares with Hindalco Industries at 25.8% and Tata Steel at 16.3%. The company has a market cap of Rs 3,31,114 crore and a P/E of 10.44 against an industry P/E of 21.37.
The JSW Steel share price has delivered a strong return over three years, and the stock trades at the lowest P/E among the three metal companies compared here. JSW Steel, part of the JSW Group and based in Mumbai, is one of the largest steel makers in India and sells flat and long steel products.
This article compares that run with Hindalco Industries and Tata Steel. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the JSW Steel Share Price Returned in 3 Years?
The JSW Steel stock closed at Rs 754.75 on 10 November 2023 and at Rs 1,352.10 on 12 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.79 lakh, which is a CAGR of 21.5%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as JSW Steel can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The JSW Steel share price has also followed steady demand for steel from construction, infrastructure and manufacturing, along with the company’s large capacity additions.
JSW Steel vs Hindalco Industries and Tata Steel: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 12 November 2026.
| Company | Close on 10 Nov 2023 | Previous close (12 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Hindalco Industries | Rs 484.45 | Rs 964.00 | 2.0x | 25.8% |
| JSW Steel | Rs 754.75 | Rs 1,352.10 | 1.8x | 21.5% |
| Tata Steel | Rs 119.65 | Rs 188.00 | 1.6x | 16.3% |
The JSW Steel stock ranks second of the three at 21.5%. It sits ahead of Tata Steel (16.3%). The company ahead is Hindalco Industries (25.8%). Hindalco leads the group, followed by JSW Steel and then Tata Steel. JSW Steel is the largest of the three by market cap and trades at the lowest P/E.
Look at the JSW Steel share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| JSW Steel | Rs 3,31,114 crore | 10.44 | 21.37 | 11.86% | 0.62 |
| Tata Steel | Rs 2,35,939 crore | 20.02 | 21.06 | 11.18% | 0.99 |
| Hindalco Industries | Rs 2,15,734 crore | 11.24 | 10.33 | 14.58% | 0.71 |
By market cap, JSW Steel is the largest of the group at Rs 3,31,114 crore, which gives it the scale advantage over Hindalco Industries, Tata Steel. On earnings, JSW Steel shares trade at a P/E of 10.44 against an industry P/E of 21.37, a discount of about 51% to the sector, which leaves room if earnings keep growing. Peer multiples are Hindalco Industries at 11.24 and Tata Steel at 20.02.
Return on equity is 11.86% for the JSW Steel stock, which ranks second among the three, and debt to equity stands at 0.62. Trailing EPS is Rs 129.66. Metal companies move with commodity cycles, so the P/E should be read together with return on equity and the debt position.
What Is Driving the JSW Steel Stock?
JSW Steel makes flat steel for cars, appliances and construction, and long products for infrastructure. It runs large plants in Karnataka, Maharashtra and Odisha and has kept adding capacity to serve the growing home market.
The company has a debt to equity of 0.62, the lowest of the three. Steel prices, raw material costs and import duties shape its margins from quarter to quarter.
Followers of the JSW Steel share price usually track steel prices, volumes, coking coal and iron ore costs, and the pace of new capacity.
How the Established Players Stack Up
Hindalco Industries is a Mumbai-based Aditya Birla Group company that makes aluminium and copper and owns the global rolled products maker Novelis. It compounded at 25.8% a year, on a market cap of Rs 2,15,734 crore and an ROE of 14.58%.
Tata Steel is a Mumbai-based steel maker from the Tata Group with operations in India and Europe. It compounded at 16.3% a year, on a market cap of Rs 2,35,939 crore and an ROE of 11.18%.
What Should Investors Track Next?
Three things are worth watching on the JSW Steel share price. First, domestic steel prices. Second, costs of coking coal and iron ore. Third, the pace of new capacity.
At a P/E of 10, the stock trades well below the industry P/E of 21, and its debt to equity of 0.62 is moderate. Commodity prices can swing results, so follow quarterly numbers closely.
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How to Compare Metal Stocks Yourself
You can repeat this exercise for any pair of stocks, including the JSW Steel stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the JSW Steel share price, the same four checks give a more complete picture than price alone.
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The Largest Steel Maker in Its Peer Set at the Lowest P/E
The JSW Steel share price compounded at 21.5% a year over three years, ahead of Tata Steel at 16.3% and behind Hindalco at 25.8%. Its market cap is the largest of the three and its P/E of 10.44 is the lowest.
Hindalco brings the faster return and the highest ROE, while Tata Steel brings a global footprint. The choice depends on which metal business you prefer.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the JSW Steel share price today?
Ans. JSW Steel closed at Rs 1,352.10 on 12 November 2026, according to NSE data. It has a market cap of Rs 3,31,114 crore and a P/E of 10.44. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the JSW Steel stock?
Ans. JSW Steel delivered a price CAGR of 21.5% over three years, moving from Rs 754.75 on 10 November 2023 to Rs 1,352.10 on 12 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is JSW Steel better than Tata Steel?
Ans. JSW Steel delivered a higher three-year CAGR at 21.5% than Tata Steel at 16.3%. JSW Steel is larger by market cap at Rs 3,31,114 crore against Rs 2,35,939 crore, trades at a lower P/E of 10.44 against 20.02 and has a slightly higher ROE at 11.86% against 11.18%. The better choice depends on your view of each business.
What does JSW Steel do?
Ans. JSW Steel is a Mumbai-based steel maker in the JSW Group that produces flat and long steel products for construction, infrastructure and manufacturing.
Is the JSW Steel stock debt free?
Ans. The debt to equity ratio of the JSW Steel stock is 0.62 and its return on equity is 11.86%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is JSW Steel expensive compared with the industry?
Ans. JSW Steel trades at a P/E of 10.44 against an industry P/E of 21.37. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which metal stock gave the highest return in 3 years?
Ans. Among the companies compared here, Hindalco Industries delivered the highest three-year CAGR at 25.8%, followed by JSW Steel at 21.5%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.