Nomura keeps INR 1,400.00 target for JSW Steel stock

Published on 10/13/2026 at 13:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Output rose 5.00 percent to 7.27 million tonnes in the second quarter. JSW Steel stock costs INR 1,176.60 on October 13, 2026, up 0.31 percent versus the NSE close.

Nomura kept its Buy rating and INR 1,400.00 target for JSW Steel on October 13, 2026.
Consolidated output rose 5.00 percent to 7.27 million tonnes in the second quarter.
JSW Steel stock was at INR 1,176.60 at 3:28 p.m. IST on October 13, 2026, up 0.31 percent versus the NSE close.
The company is scheduled to report second-quarter and first-half results on October 23, 2026.

JSW Steel, INE019A01038, Illustration mit AI erstellt.

On October 13, 2026, Nomura kept its Buy rating on JSW Steel and set a target of INR 1,400.00, according to The Financial Express. The target lies 18.99 percent above the NSE price of INR 1,176.60. JSW Steel stock was last at INR 1,176.60 at 3:28 p.m. IST on October 13, 2026, up 0.31 percent versus the NSE close of INR 1,173.00.

Second-quarter output reaches 7.27 million tonnes

JSW Steel reported consolidated crude steel production of 7.27 million tonnes for the second quarter, up 5.00 percent from 6.95 million tonnes a year earlier, Business Standard reported on October 8, 2026. Indian operations contributed 7.07 million tonnes, also up 5.00 percent year over year, while utilization stood at 88.00 percent during the July to September quarter.

First-half production reached 13.86 million tonnes, a 4.00 percent increase from 13.32 million tonnes in the year-ago period. The figures give the analyst target a concrete operating backdrop, but steel prices and raw-material costs remain central to the earnings outcome.

Stock remains below its yearly high

The NSE price of INR 1,176.60 stands 12.91 percent below the 52-week high of INR 1,351.00 and 9.63 percent above the 52-week low of INR 1,073.20, both as of October 13, 2026. Trading volume was 810,588 shares, compared with an average volume of 1,660,279 shares.

JSW Steel's market capitalization was INR 2.9 trillion and its price-to-earnings ratio was 11.61 on October 13, 2026. Tata Steel traded at INR 175.00 with a 19.75 ratio and INR 2.2 trillion market capitalization, while Steel Authority of India traded at INR 172.77 with a 16.71 ratio and INR 713.6 billion market capitalization.

October 23 results set the next test

JSW Steel is scheduled to announce its second-quarter and first-half fiscal 2027 results on October 23, 2026, according to NDTV Profit. The results will cover the period ended September 30, 2026. For investors, the key comparison is whether the 5.00 percent production increase translates into stronger reported earnings after the first quarter's INR 46.51 billion net profit.

Comparison with peers

JSW Steel (NSE, INR): plus 0.31 percent, P/E 11.61, market capitalization INR 2.9 trillion
Tata Steel (NSE, INR): plus 1.60 percent, P/E 19.75, market capitalization INR 2.2 trillion
Steel Authority of India (NSE, INR): plus 1.04 percent, P/E 16.71, market capitalization INR 713.6 billion

Price and upcoming results

JSW Steel was at INR 1,176.60 on the NSE at 3:28 p.m. IST on October 13, 2026, up 0.31 percent versus the NSE close of INR 1,173.00. The next scheduled reporting date is October 23, 2026.