340% Dividend: Metals Stock, On Buy Call, To Trade Ex-Dividend Next Week

Large cap stock from Metals & Ferrous sector, JSW Steel Ltd is set to trade ex-dividend on July 11, 2023 for 340% dividend. JSW Steel shares offered 43% return in last 1-year and 310% return in last 3-years. Meanwhile, brokerage firm Chola Wealth Direct has recommended buy call to JSW Steel with target price of Rs 940 apiece and potential return of 18%. If you buy JSW Steel stock at current market price of Rs 790.55 apiece, you can obtain 18% likely return in a target time frame of 3-months. Check details below:

JSW Steel Declared Rs 3.5/Share Dividend: The board of directors of JSW Steel on May 19, 2023 recommended a final dividend of Rs 3.40 per fully paid-up equity share of Re 1/- each for the year ended March 31, 2023. The ex-dividend date is July 11, 2023.

JSW Steel Stock Performance & Return: Last trading price of JSW Steel share is Rs 795.55 per share with intraday gain of 0.39%. Its 52-week high price is Rs 808.00 apiece and 52-week low price is Rs 541.05 apiece, respectively. The company has a market capitalisation of Rs 1,92,301.97 crore. In last 3-months, JSW Steel shares offered return of 17%, gave 43% return in last 1-year, 18% return in last 2-years, and 310% gain in last 3-years. The stock jumped 1189% in last 10-years.

Valuation: Chola Wealth Direct has suggested investors to buy JSW Steel stock with target price of Rs 940 per share. The analyst has asked to keep the stop loss at Rs 700 per share and has given a time frame of 3-months when the stock is expected to realise the target price.

The analyst as per the technical rationale stated, "JSW Steel Ltd. is in a long-term upward trajectory from early Oct'2020, confirmed by crossover of SMA (21,100) on weekly chart. Our short-term price target for the stock is 940 levels which is about 161.8% Fibonacci extension of price correction from 790 levels to 520 levels. Having regard to aforesaid triggers, we have a buy recommendation on the stock at current levels at 783 with stop loss of 700 and a target of 940."

About JSW Steel: The flagship company of JSW Group, JSW Steel is one of India's leading integrated steel manufacturers with a capacity of 18 MTPA. It is one of the fastest growing companies in India with a footprint in over 100 countries. With state-of-the-art manufacturing facilities located in Karnataka, Tamil Nadu and Maharashtra, it is recognized for its innovation and quality. JSW offers a wide gamut of steel products that includes Hot Rolled, Cold Rolled, Bare & Pre-painted Galvanized & Galvalume®, TMT Rebars, Wire Rods and Special Steel, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Chola Wealth Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.