HSBC assigns a ‘Buy’ to JSW Steel, Jindal Stainless

April 29, 2026

HSBC has initiated coverage on JSW Steel and Jindal Stainless with Buy ratings, anticipating a multi-year demand upcycle fueled by infrastructure and urbanization. The bank also reiterated a Buy on Tata Steel, highlighting strong balance sheets and margin expansion as key sector tailwinds, with price targets implying significant upside.

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