JSW Steel Shares Up 2% on JFE JV; Brokerages Bullish on Growth, Debt Cut

• JSW Steel shares rose after announcing a joint venture with Japan's JFE Steel.
• The 50:50 JV involves the transfer of the Bhushan Power & Steel (BPSL) facility, with JFE investing Rs 15,750 crore.
• The transaction helps JSW Steel monetize its BPSL holding, strengthen its balance sheet, and reduce debt.
• Most brokerages are bullish on JSW Steel, citing debt reduction and growth prospects, with target prices up to Rs 1,350.
• Elara Capital maintains a 'Sell' rating, advising caution as recent positives may already be priced into the stock.

Why It Matters: JSW Steel's JV with JFE Steel enhances financial strength and future growth potential.