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Steel Stocks To Buy: Nomura raises price target on its top two picks for 16% upsideNomura is upbeat on JSW Steel and JSPL, raising price targets and maintaining 'Buy' ratings, citing upcoming capacity expansions and stronger raw material integration as drivers of earnings growth.By Nigel D'Souza    | Meghna Sen   September 23, 2025, 10:32:47 AM IST (Published)1 Min ReadGlobal brokerage firm Nomura sees positive signs for the steel sector, citing production cuts and the possibility of stimulus measures in China, alongside potential improvements in domestic prices.

The brokerage estimates an EBITDA CAGR of 25-27% over FY25-28F across its coverage universe.

For JSW Steel, Nomura maintains a 'Buy' rating and has raised its price target to ₹1,300, expecting steady earnings growth.

The optimism is driven by upcoming capacity expansions that align with a cyclical recovery, as well as the company's raw material backward integration, which positions it better than other integrated players.

Similarly, for JSPL, Nomura retains a 'Buy' rating and has increased the price target to ₹1,150.

The positive outlook is supported by capacity additions that will raise the share of flat products in its volume mix, enhanced raw material integration, and potential cost reductions following the commissioning of pellet and captive power plants.

On Tuesday, shares of JSW Steel are trading 0.47% higher at ₹1,122.30, while those of Jindal Steel shares are down 0.12% at ₹1,031.25.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsJindal Steel and Power (JSPL)JSW Steelshare market todaysteel