JSW Steel Ltd (JSTL.NS)
|Market Cap (Mil.):||Rs225,587.09|
|Shares Outstanding (Mil.):||241.72|
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Abhiram Nandakumar in Bangalore)
Reuters Market Eye - BNP Paribas downgrades JSW Steel Ltd to "reduce" from "hold", citing expensive valuations after recent outperformance due to a delay in the U.S. Federal Reserve's tapering of monetary stimulus in September.
* J.P. Morgan upgrades India's JSW Steel Ltd to "overweight" from "neutral" and raises its target price to 850 rupees ($13.44) from 720, citing rupee boost to export earnings followed by margin expansion from new projects. * The investment bank says JSW is a key beneficiary of a weaker rupee and expects exports to be around 25 percent of the company's total sales in FY14. * Domestic cost pressures have peaked out, while iron ore availability should improve gradually, allowing higher utilisation
NEW DELHI/LONDON - JSW Steel , India's third-largest steelmaker, has expressed interest in buying British steel trader Stemcor's Indian iron ore assets, joining at least three other interested parties, two sources at the companies said.
* At least four firms in talks with Stemcor over asset sale