Jindal Steel Share Price: Nuvama has now reduced the price target of Jindal Steel to ₹ 1,264 per share. By the end of September 2025, promoters held 62.37% stake in the company. Jindal Steel’s EBITDA may grow at a CAGR of 28% during FY25–28 due to higher steel prices.
Brokerage firm Nuvama has reduced its price target for Jindal Steel shares by 9.7%. However, the brokerage is still bullish on the stock and has given it a ‘Buy’ rating.
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Nuvama has reduced the price target from ₹1,400 per share to ₹1,264 per share. This is 26.5% more than the closing price of the share on BSE on December 24.
Nuvama says that due to falling steel prices and rising production costs, there may be pressure on the spread of Jindal Steel. However, it is expected to improve in the third quarter i.e. October-December.
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According to the brokerage, Jindal Steel’s EBITDA per tonne may decline to ₹ 8,200 in the December 2025 quarter, which is ₹ 1,800 per tonne less than the previous quarter. The company’s EBITDA is expected to grow at a CAGR of about 17% during FY25–28.
The brokerage has also said that due to higher steel prices, 28% CAGR growth in EBITDA is possible during FY25–28. Nuvama has cut Jindal Steel’s EBITDA estimates for FY26, FY27 and FY28 by 16%, 13% and 7% respectively.
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EBITDA per tonne in FY27 and FY28 is expected to increase by ₹3,000 to ₹4,000 per tonne compared to FY26. This could be due to higher volumes, better realization and reduction in costs.
Currently, shares of Jindal Steel are trading at ₹999 on BSE. The stock market is closed on 25th December due to Christmas holiday. The market capitalization of the company is more than ₹ 1 lakh crore.
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By the end of September 2025, promoters held 62.37% stake in the company. In the July-September 2025 quarter, Jindal Steel’s standalone revenue was ₹ 12,108.60 crore and net profit was ₹ 920.67 crore.
In FY2025, the company recorded standalone revenue of ₹48,818 crore, while net profit stood at ₹3,621.18 crore.
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