Tata Steel, JSW Steel, Jindal Steel Surge: Unpacking the Steel Stock Rally Drivers

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Steel Stocks Soar: Tata Steel, JSW Steel, Jindal Steel Rally on Strong Fundamentals

Steel Stocks Soar: Tata Steel, JSW Steel, Jindal Steel Rally on Strong Fundamentals

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CNBC TV18•20-03-2026, 14:12

Steel Stocks Soar: Tata Steel, JSW Steel, Jindal Steel Rally on Strong Fundamentals

•Ferrous metal companies' shares surged on Friday, driven by improving fundamentals and bullish global brokerage commentary.
•Macquarie Group noted a 7-8% correction since February 2026, making it an attractive entry point for steel stocks.
•Steel price hikes of 12-13% since mid-December 2025 are boosting spreads, with EBITDA per tonne expected to rise by over ₹1,500 in Q4 FY26.
•HSBC raised Tata Steel's target price to ₹250, citing stronger import protection across key markets like the UK, Europe (CBAM), and India.
•Tata Steel commissioned its first scrap-based Electric Arc Furnace in India, investing ₹3,200 crore for cost efficiency and sustainability.

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