Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.
In FY16, during an anti-dumping investigation, the government imposed a 20 per cent safeguard duty on hot-rolled coil imports for a period of 200 days.
This would translate into higher incremental earnings before interest, taxes, depreciation and amortisation (Ebitda) per tonne for Indian steelmakers, particularly those like JSW Steel and JSPL, who are well-positioned to capitalise on this price hike.
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