Steel stocks crack over 3% after CLSA downgrades of Tata Steel & JSW Steel
Mon, Mar 4, 2024 11:53 AM

Steel stocks crack over 3% after CLSA downgrades of Tata Steel & JSW Steel

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Shares of steel companies fell up to 3.4% on Monday after CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis. The Hong Kong-based brokerage downgraded JSW Steel and Tata Steel while reiterating its underperform rating for Jindal Steel & Power.JSW Steel shares fell 3% to the day's low of Rs 818.50 on the NSE in the early trade.

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