Motilal Oswal rates JSW Steel stock Buy at INR 1,340.00 target

Published on 10/02/2026 at 04:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-quarter revenue reached INR 473.64 billion, up 9.77 percent year over year. JSW Steel stock reports on October 23, 2026.

JSW Steel, INE019A01038, Illustration mit AI erstellt.

Motilal Oswal maintained a Buy rating on JSW Steel stock with an INR 1,340.00 target, according to Mint on September 18, 2026. The rating puts the brokerage view beside the company's next reporting date, with second-quarter fiscal 2027 results scheduled for October 23, 2026.

Results date sets the next test

NDTV Profit reported on September 28, 2026 that JSW Steel will announce results for the quarter and half year ended September 30, 2026 on October 23, 2026. The scheduled release matters because the first quarter showed a sharp sequential reset after an exceptional gain in the preceding quarter.

In the first quarter of fiscal 2027, profit was INR 46.51 billion, down 71.60 percent from INR 163.70 billion in the preceding quarter, according to the same NDTV Profit report. The comparison is heavily affected by the earlier exceptional gain, so the October report will provide a cleaner test of recurring steel profitability.

Production growth meets cost pressure

Revenue from operations reached INR 473.64 billion in the first quarter of fiscal 2027, up 9.77 percent from INR 431.47 billion a year earlier, while reported earnings before interest, taxes, depreciation and amortization rose 23.85 percent to INR 93.83 billion from INR 75.76 billion, according to Upstox. The figures show stronger operating performance even as the sequential profit comparison remains volatile.

Operational data supplied by the company and reported by The Hindu BusinessLine on September 5, 2026 showed consolidated crude steel production of 2.465 million tonnes in August 2026, up 3.00 percent year over year. Indian operations ran at 88.00 percent capacity utilization during the month, while higher coking coal and other input costs remained a pressure point in the first-quarter margin discussion.

NSE price remains below yearly high

JSW Steel was last at INR 1,233.00 on NSE on October 1, 2026 at 3:15 p.m. IST, versus a prior close of INR 1,253.40. Its market capitalization was INR 3,009.7 billion on the same quote, while the NSE showed a 52-week range of INR 1,073.20 to INR 1,351.00 as of September 28, 2026.