JSPL Shares Plunge 3%, Citi Warns of 25% Further Drop Amid FII Sell-off

• JSPL shares fell 3% on January 8, opening at ₹1,074 and quickly dropping below ₹1,050.
• Citi issued a "TACTICAL SELL" rating, setting a target price of ₹830, indicating a potential 23% downside.
• Major FII selling, with their stake decreasing from 12.19% to 9.43%, significantly impacted market sentiment.
• Citi predicts a sharp 30% decline in JSPL's Q3 EBITDA per ton, from ₹10,000 to ₹7,000.
• Concerns over a potential acquisition of Thyssenkrupp Steel and its financial implications also contributed to the decline.

Why It Matters: JSPL shares plunged on FII selling, Citi's 'SELL' call, and acquisition fears, with further downside risk.