Motilal Oswal Recommends 'BUY' on Jindal Steel with Rs 1290 Target

• Motilal Oswal has reiterated a 'BUY' rating for Jindal Steel (JINDALST).
• The target price for Jindal Steel is set at INR 1,290.
• Jindal Steel's revenue reached INR 130 billion in 3QFY26, an 11% YoY increase.
• Production volume surged to 2.51 million tonnes (+26% YoY/QoQ), driven by new Angul capacity.
• The stock currently trades at 8.3x EV/EBITDA on FY27E.

Why It Matters: Motilal Oswal recommends buying Jindal Steel, projecting a target price of INR 1,290 due to strong growth.