CLSA Expresses Caution Over High Valuations and Margin Pressure of Indian Steel Companies
CLSA, a leading brokerage firm, has expressed caution about Indian steel companies due to several concerns, which include high valuations and pressure on margins. As a result, the firm has downgraded Tata Steel to a ‘Sell’ rating and lowered its target price from ₹145 to ₹135 per share. JSW Steel has also seen a downgrade to ‘Sell,’ with its target price cut from ₹810 to ₹730 per share.
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