{"id":328624,"date":"2026-10-27T15:49:05","date_gmt":"2026-10-27T10:19:05","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=328624"},"modified":"2026-10-27T15:49:05","modified_gmt":"2026-10-27T10:19:05","slug":"best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/","title":{"rendered":"Best Steel Stocks to Watch: Why Aditya Birla Money Prefers JSW Steel and SAIL, Q2 Numbers, Valuation and Key Levels Compared"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Aditya Birla Money&#8217;s steel sector report of 23 Oct 2026 rates JSW Steel and SAIL as Buy and Tata Steel and Jindal Steel as Add, and steel stocks closed higher on Tuesday, 27 Oct 2026: SAIL at Rs 171.20 (up 0.82%), Tata Steel at Rs 171.42 (up 0.87%) and Jindal Steel at Rs 1,060 (up 1.93%), while JSW Steel was at Rs 1,252.70 (down 0.58%). The report gives no target prices, so the brokerage targets in this article come from other houses.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Aditya Birla Money prefers JSW Steel, which it calls a compounder with consistent capacity additions, and SAIL, which it calls a margin recovery play, among steel stocks. The report assumes Indian steel consumption grows at a 7.5% CAGR, inventories of about 10 million tonnes fall to almost zero in three years, and prices stay above their 10-year averages. The main risk it names is the unwinding of the 11% to 12% safeguard duty in 2028. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>Steel stocks are in focus because JSW Steel has just reported a threefold rise in profit and a broker has put two of them at the top of its list. This article compares the four steel stocks in that report on ratings, results, valuation and price levels, and it keeps the facts about each source clear. The headline names Aditya Birla Capital, while the report itself is from Aditya Birla Money, a group company.<\/p>\n<p>I could not find target prices from Aditya Birla Money, so I show the brokerage targets for JSW Steel, the only one of these steel stocks with fresh targets in my sources, from other houses. SAIL&#8217;s Q2 FY27 results were not available in my data, and its latest quarter below is June 2026. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Steel_Stocks_What_Aditya_Birla_Money_Says\" title=\"Steel Stocks: What Aditya Birla Money Says\">Steel Stocks: What Aditya Birla Money Says<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#JSW_Steel_Q2_FY27_Results_and_Brokerage_Targets\" title=\"JSW Steel Q2 FY27 Results and Brokerage Targets\">JSW Steel Q2 FY27 Results and Brokerage Targets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Steel_Stocks_Compared_Prices_Results_and_Valuation\" title=\"Steel Stocks Compared: Prices, Results and Valuation\">Steel Stocks Compared: Prices, Results and Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Technical_Levels_for_Steel_Stocks\" title=\"Technical Levels for Steel Stocks\">Technical Levels for Steel Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Risks_and_What_to_Watch_Next\" title=\"Risks and What to Watch Next\">Risks and What to Watch Next<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Conclusion_Steel_Stocks_Have_Momentum_but_Check_the_Basis\" title=\"Conclusion: Steel Stocks Have Momentum, but Check the Basis\">Conclusion: Steel Stocks Have Momentum, but Check the Basis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Which_steel_stocks_does_Aditya_Birla_Money_prefer\" title=\"Which steel stocks does Aditya Birla Money prefer?\">Which steel stocks does Aditya Birla Money prefer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#What_did_JSW_Steel_report_in_Q2_FY27\" title=\"What did JSW Steel report in Q2 FY27?\">What did JSW Steel report in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#What_are_the_brokerage_targets_for_JSW_Steel_among_steel_stocks\" title=\"What are the brokerage targets for JSW Steel among steel stocks?\">What are the brokerage targets for JSW Steel among steel stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Why_is_SAIL_called_a_margin_recovery_play\" title=\"Why is SAIL called a margin recovery play?\">Why is SAIL called a margin recovery play?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#What_is_the_biggest_risk_for_steel_stocks\" title=\"What is the biggest risk for steel stocks?\">What is the biggest risk for steel stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#How_do_the_valuations_of_these_steel_stocks_compare\" title=\"How do the valuations of these steel stocks compare?\">How do the valuations of these steel stocks compare?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#What_are_the_technical_levels_for_these_steel_stocks\" title=\"What are the technical levels for these steel stocks?\">What are the technical levels for these steel stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/best-steel-stocks-to-buy-why-aditya-birla-money-prefers-jsw-steel-and-sail-q2-numbers-valuation-and-key-levels-compared\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Steel_Stocks_What_Aditya_Birla_Money_Says\"><\/span><strong>Steel Stocks: What Aditya Birla Money Says<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Steel stocks: company<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Aditya Birla Money view<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reason given<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JSW Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Compounder with consistent capacity additions<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SAIL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Margin recovery play<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Tata Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Add<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not detailed in the report summary<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jindal Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Add<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not detailed in the report summary<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">ArcelorMittal<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Positive view, no rating stated<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Targets 40 million tonnes of Indian capacity against about 9 million tonnes now<\/td>\n<\/tr>\n<\/table>\n<p>The report argues that the market is not pricing a multi-year steel cycle and that guessing the peak is futile. It expects supply and demand to grow 6% to 8% a year, and it expects prices to stay above their 10-year averages. Policy support matters too for steel stocks: it cites the EU&#8217;s tariff rate quota, US Section 232 and India&#8217;s safeguard duty, and says Europe, the UK and the US have recently imposed tariffs of 50%.<\/p>\n<p>The key worry for steel stocks is the safeguard duty of 11% to 12%, which investors fear could unwind in 2028. The author expects the measures to stay beyond 2028 as part of policy continuity. Short-term inventory flows could also cause modest price swings.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track steel stocks and metal stocks on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"JSW_Steel_Q2_FY27_Results_and_Brokerage_Targets\"><\/span><strong>JSW Steel Q2 FY27 Results and Brokerage Targets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Steel stocks: JSW Steel Q2 FY27 (Rs crore)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Data provider<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Business Today report<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">54,927 (total income)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">54,486 from operations, up 10.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10,561<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10,120, up 42.2% YoY and 6% QoQ<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">5,359 (up 14.1% on Q1&#8217;s 4,696)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">5,279, up 225.3% from 1,623<\/td>\n<\/tr>\n<\/table>\n<p>The two sources use different bases, which explains the gaps: the larger profit appears to be before minority interest and the smaller one after it, and one revenue figure includes other income. Both agree that the quarter was strong, with record volumes, offset partly by higher coking coal prices and lower steel realisations.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Steel stocks: JSW Steel brokerage<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rating and target<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Upside from Rs 1,252.70 (my calculation)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Basis<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jefferies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy, Rs 1,650 (upside case Rs 1,800, downside case Rs 1,050)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">31.7%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10 times Sep-28E EV\/EBITDA; EPS expected to roughly triple over FY26 to FY29<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Systematix<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy, Rs 1,515<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20.9%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9.5 times EBITDA plus a 50% stake in JJSL valued at about Rs 15,800 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">MOSL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy, Rs 1,460<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">16.6%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sum of the parts; 6.9 times FY28E EV\/EBITDA<\/td>\n<\/tr>\n<\/table>\n<p>The brokerages quoted a price of Rs 1,193.80, so the JSW Steel share price is about 4.9% higher now and the upside to each target is lower than they stated (my calculation). Jefferies says Indian steel prices have risen about 15% since August 2026 and points to a 10 million tonne expansion that supports a plan to double capacity by FY32. Systematix expects coking coal costs to rise by about USD 25 a tonne in the December quarter and lists weaker steel prices, higher input costs and project delays as risks.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to set price alerts on JSW Steel, SAIL, Tata Steel and Jindal Steel.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Steel_Stocks_Compared_Prices_Results_and_Valuation\"><\/span><strong>Steel Stocks Compared: Prices, Results and Valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Steel stocks: company<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Close on 27 Oct<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Latest quarter (data provider)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Price to earnings<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Price to book<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Return on equity<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JSW Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,252.70<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sep 2026: revenue Rs 54,927 crore, profit Rs 5,359 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9.70<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2.72<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">11.86%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SAIL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 171.20<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jun 2026: revenue Rs 26,451.21 crore, profit Rs 1,644.05 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">16.43<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1.16<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6.35%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Tata Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 171.42<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jun 2026: revenue Rs 61,026.97 crore, profit Rs 2,385.24 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">18.82<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2.11<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10.56%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jindal Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,060<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sep 2026: revenue Rs 19,447.87 crore, profit Rs 770.64 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">37.12<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2.02<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6.16%<\/td>\n<\/tr>\n<\/table>\n<p>The industry price to earnings for steel stocks is 19.89. JSW Steel&#8217;s 9.70 looks low, but its trailing earnings include a March 2026 quarter with profit of Rs 19,243 crore and an operating margin of 53.6%, which looks like a one-off gain (my reading), so the multiple flatters the stock. The SAIL share price has backing from profit, which for June 2026 was more than double that of a year earlier, at Rs 1,644.05 crore against Rs 744.58 crore (my calculation), which supports the margin recovery view, while its return on equity of 6.35% is still low.<\/p>\n<p>Jindal Steel&#8217;s Q2 revenue rose about 44.0% year on year to Rs 19,447.87 crore and profit about 21.3% to Rs 770.64 crore (my calculation), but its operating margin eased to 13.37% from 15.04% in June. The Tata Steel share price has June profit about 18.8% higher than a year earlier behind it, and the dividend yield of 2.36% is the highest of the four.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technical_Levels_for_Steel_Stocks\"><\/span><strong>Technical Levels for Steel Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Steel stocks: company<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">14-day RSI<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">20-day EMA<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">SuperTrend (10, 3)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JSW Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">48.86<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,225.79<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 1,135.45, upper band Rs 1,261.68<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SAIL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">40.97<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 172.74<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 155.00, upper band Rs 182.41<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Tata Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">36.92<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 175.37<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 164.45, upper band Rs 180.60<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jindal Steel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">44.00<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,057.54<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 964, upper band Rs 1,100.78<\/td>\n<\/tr>\n<\/table>\n<p>The JSW Steel share price is about 2.2% above its 20-day average and near the upper SuperTrend band of Rs 1,261.68, while the SAIL share price and the Tata Steel share price trade slightly below their averages. All four steel stocks carry a buy signal from SuperTrend, which reflects the trend and not a recommendation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_and_What_to_Watch_Next\"><\/span><strong>Risks and What to Watch Next<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Safeguard duty.<\/strong> An unwinding of the 11% to 12% duty in 2028 is the main investor concern for steel stocks.<\/li>\n<li><strong>Input costs.<\/strong> A rise in coking coal costs can reduce margins, as Systematix flags for the December quarter.<\/li>\n<li><strong>Price swings.<\/strong> Weaker steel prices would hit earnings across steel stocks.<\/li>\n<li><strong>Source differences.<\/strong> JSW Steel&#8217;s profit and EBITDA differ by source, so check the exchange filing.<\/li>\n<li><strong>No targets.<\/strong> The Aditya Birla Money report summary gives ratings only, so upside in these steel stocks cannot be measured from it.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Steel_Stocks_Have_Momentum_but_Check_the_Basis\"><\/span><strong>Conclusion: Steel Stocks Have Momentum, but Check the Basis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among steel stocks, the JSW Steel share price has the strongest results and the widest brokerage support behind it, SAIL has the clearest margin recovery, and the Tata Steel share price and Jindal Steel carry Add ratings. Prices have already moved, margins depend on coking coal and policy, and the headline rating is a view and not a target. Compare the filings, the safeguard duty risk and your own risk profile before acting on any of these steel stocks.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_steel_stocks_does_Aditya_Birla_Money_prefer\"><\/span><strong>Which steel stocks does Aditya Birla Money prefer?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Its steel sector report of 23 Oct 2026 rates JSW Steel and SAIL as Buy, and Tata Steel and Jindal Steel as Add. It calls JSW Steel a compounder with consistent capacity additions and SAIL a margin recovery play. The report summary I found gives no target prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_did_JSW_Steel_report_in_Q2_FY27\"><\/span><strong>What did JSW Steel report in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The data provider shows revenue of Rs 54,927 crore, EBITDA of Rs 10,561 crore and net profit of Rs 5,359 crore, up 14.1% on Q1. Another report shows EBITDA of Rs 10,120 crore and profit of Rs 5,279 crore, up 225.3% year on year. The bases differ, so check the filing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_brokerage_targets_for_JSW_Steel_among_steel_stocks\"><\/span><strong>What are the brokerage targets for JSW Steel among steel stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Jefferies has a Buy with a target of Rs 1,650, Systematix a Buy with Rs 1,515 and MOSL a Buy with Rs 1,460. Against the 27 Oct close of Rs 1,252.70, the upside is about 31.7%, 20.9% and 16.6% (my calculation). Targets are opinions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_SAIL_called_a_margin_recovery_play\"><\/span><strong>Why is SAIL called a margin recovery play?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SAIL share price rests on an operating margin that rose from 11.59% in June 2025 to 16.16% in June 2026, and its profit more than doubled to Rs 1,644.05 crore. Its return on equity is still low at 6.35%, and its Q2 FY27 results were not available in my data.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_biggest_risk_for_steel_stocks\"><\/span><strong>What is the biggest risk for steel stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Aditya Birla Money names the possible unwinding of the 11% to 12% safeguard duty in 2028 as the main worry, although it expects policy to continue. Input costs, weaker steel prices and project delays are further risks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_do_the_valuations_of_these_steel_stocks_compare\"><\/span><strong>How do the valuations of these steel stocks compare?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The data provider shows price to earnings of 9.70 for JSW Steel, 16.43 for SAIL, 18.82 for Tata Steel and 37.12 for Jindal Steel, against an industry level of 19.89. JSW Steel&#8217;s multiple is flattered by a one-off looking March 2026 profit, so use forward estimates.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_technical_levels_for_these_steel_stocks\"><\/span><strong>What are the technical levels for these steel stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> RSI readings are 48.86 for JSW Steel, 40.97 for SAIL, 36.92 for Tata Steel and 44.00 for Jindal Steel, and all four have a SuperTrend buy signal. JSW Steel&#8217;s upper band is Rs 1,261.68 and SAIL&#8217;s lower band is Rs 155.00. These are trend readings and not targets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which steel stocks does Aditya Birla Money prefer?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its steel sector report of 23 Oct 2026 rates JSW Steel and SAIL as Buy, and Tata Steel and Jindal Steel as Add. It calls JSW Steel a compounder with consistent capacity additions and SAIL a margin recovery play. The report summary I found gives no target prices.\"}},{\"@type\":\"Question\",\"name\":\"What did JSW Steel report in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The data provider shows revenue of Rs 54,927 crore, EBITDA of Rs 10,561 crore and net profit of Rs 5,359 crore, up 14.1% on Q1. 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Its return on equity is still low at 6.35%, and its Q2 FY27 results were not available in my data.\"}},{\"@type\":\"Question\",\"name\":\"What is the biggest risk for steel stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Aditya Birla Money names the possible unwinding of the 11% to 12% safeguard duty in 2028 as the main worry, although it expects policy to continue. Input costs, weaker steel prices and project delays are further risks.\"}},{\"@type\":\"Question\",\"name\":\"How do the valuations of these steel stocks compare?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The data provider shows price to earnings of 9.70 for JSW Steel, 16.43 for SAIL, 18.82 for Tata Steel and 37.12 for Jindal Steel, against an industry level of 19.89. 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See ratings, Q2 numbers, brokerage targets, valuation and key levels compared. Educational only.<\/p>\n","protected":false},"author":36,"featured_media":328623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[16826,16823,6243,16827,267,16828,5354,16824,5244,16825],"class_list":["post-328624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-aditya-birla-money-steel-report","tag-best-steel-stocks","tag-jindal-steel-share-price","tag-jsw-steel-q2-results","tag-jsw-steel-share-price","tag-jsw-steel-target-price","tag-metal-stocks","tag-sail-share-price","tag-steel-stocks","tag-tata-steel-share-price"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["328623"],"rank_math_title":["Steel Stocks: Why Aditya Birla Money Prefers JSW Steel, SAIL"],"rank_math_description":["Steel stocks in focus: Aditya Birla Money prefers JSW Steel and SAIL. 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