Jindal Steel and Power Ltd upgraded by Kotak Institutional Equities

Today, I recommended the scrip with a price target of Rs.341, for the short term. CMP: Rs.329.50

Kotak Institutional Equities upgraded Jindal Steel and Power to "add" from "reduce", with a target price of Rs.420, noting a steep correction in share prices in the past three months.

Those falls, amounting to 26.2 per cent in the past three months, are making the risk-reward ratio more favourable, despite lingering concerns including whether there would be delays in signing a mining lease to power its plant in Odisha in eastern India.

Courtesy: NDTV Profit