JSW Steel Tops as World’s Most Valuable Steelmaker
Sajjan Jindal’s Company Crosses $30 Billion Market Cap
Under Sajjan Jindal’s leadership, JSW Steel has achieved a significant milestone by becoming the world’s highest-valued steelmaker, with its market capitalization surpassing $30 billion. This accomplishment can be attributed to a broader upward trend among Indian steel manufacturers, spurred by recent recommendations from a government entity to safeguard domestic producers from rising low-cost steel imports.
Outstanding Stock Performance
- JSW Steel shares hit a record high of Rs 1,074.15 on the BSE.
- The company’s stock value has grown by around 11% in just one month.
- JSW Steel’s market capitalization surpassed US-based Nucor Corp’s $29.92 billion.
Comparison with Other Steel Giants
Other prominent steel producers, such as Europe’s ArcelorMittal, Japan’s Nippon Steel Corp, and China’s Baoshan Iron, have market capitalizations ranging between $21 billion and $27 billion.
Investec Analyst’s Opinion
Investec analyst Ritesh Shah expressed his preference for JSW Steel, stating, “JSW Steel is our preferred ferrous proxy.” He added, “The company boasts a proven growth and EBITDA (earnings before interest, tax, depreciation, and amortisation) trajectory.”
Valuation Metrics
- Tata Steel, the second most valuable steel enterprise in India, has a market capitalization of approximately $23 billion.
- Jindal Steel is valued at $10.81 billion, while state-owned SAIL stands at $5.5 billion.
- Over the past week, Tata Steel and SAIL saw gains of 1-5%, while Jindal Steel & Power faced a decline.
