- 03 Sept 2024
6 mins read- By: BlinkX Research Team
Steel stocks are companies' shares in steel production, processing, and distribution. India is the world's second-largest producer of crude steel, producing over 100 million tonnes annually. The steel industry employs 20,000 people and contributes 2% to India's GDP. By 2030-2031, the sector is projected to produce over 300 million tonnes of steel annually, with crude steel output reaching 255 million tonnes and finished steel output reaching 230 million tonnes. In this blog, we will explore some of the best steel stocks in India and an overview of the companies.
What are Steel Stocks?
Stocks owned by companies that research develop, fabricate, or market steel goods are known as steel stocks. By purchasing steel stocks, people can become sole proprietors of these businesses and profit from their financial success. As a result, buying the best steel company share in India allows people to profit from the growth and achievements of the country's steel sector.
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Table of Contents
- What are Steel Stocks?
- List of 10 Best Steel Stocks in India
- Top Steel Companies in India – Overview
- Here is the overview of the top steel companies in India:
- Tips for Investing in Steel Stocks
- Key Features of Steel Stocks
- How to Identify the Best Steel Stocks in India?
- How to Invest in the Steel Sector in India?
- Factors Influencing Steel Sector Stocks
- Benefits and Risks of Investing in Steel Company Shares in India
List of 10 Best Steel Stocks in India
The top 10 best steel company stocks in India are listed below which indicates market caps, and share prices.
Company Name | CAGR of 5 Years (28th Aug 24) | PE Ratio |
Godawari Power & Ispat Ltd | 95.15% | 13.02
|
Maithan Alloys Ltd | 21.32% | 4.49 |
Venus Pipes & Tubes Ltd | 87.1% | 51.50 |
D P Wires Ltd | 52% | 19.95 |
JTL Infra Ltd | 50.3% | 37.52 |
Shivalik Bimetal Controls Ltd | 47.90% | 40.69 |
Rajratan Global Wire Ltd | 74.18% | 40.63 |
Shyam Metalics and Energy Ltd | 16.21% | 20.12 |
Uni-Abex Alloy Products Ltd | 52.08% | 6.55 |
Steel Cast Ltd | 25% | 20.01 |
Disclaimer: The information provided on the above stocks is for informational purposes only. It is crucial to conduct thorough research before making any investment decisions regarding these stocks. We do not recommend trading any stocks without comprehensive research and professional financial advice. Always consult with a certified financial advisor to ensure informed and appropriate investment choices.
Top Steel Companies in India – Overview
Here is the overview of the top steel companies in India:
Ispat Company & Godawari Power Ltd
Godawari Power & Ispat, a metal mining company, trades at Rs 923.05, reflecting a 2.00% increase from its previous close. The stock shows potential value with a TTM P/E ratio of 10.73, below the sector average of 16.11. Analyst sentiment leans towards a strong buy, with no sell ratings. The company's solid performance, evidenced by a net profit of 229.26 Crores in the last quarter and increasing institutional holdings, especially from Mutual Funds and FIIs, indicates growing investor confidence in its prospects.
Get more details about Ispat Company & Godawari Power Ltd share price today here.
Know the Ispat Company & Godawari Power Ltd share price history here.
Maithan Alloys Ltd
Maithan Alloys, currently trading at Rs 1,275.50, experienced a slight decline of -0.66% from its previous close, with a trading range between Rs 1,322.00 and Rs 1,265.85. Despite this, the stock has shown positive returns of 7.85% over the year and 9.64% in the last 5 days. With a TTM P/E ratio of 11.36, lower than the sector average of 16.11, and a net profit of 85.34 Crores in the last quarter, Maithan Alloys exhibits growth potential. Its listed peers include Indian Metals & Ferro Alloys and Sunflag Iron & Steel Co. With a promoter holding of 74.99% and notable institutional investor interest, including an increase in FII holding from the previous quarter, Maithan Alloys appears to be a stock to watch for potential investment opportunities.
Get more details about Maithan Alloys Ltd share price today here.
Know the Maithan Alloys Ltd share price history here.
Venus Pipes & Tubes Ltd
Venus Pipes, currently trading slightly lower at Rs 2,122.95, has shown resilience amidst market fluctuations. Despite the dip, its year-to-date growth stands impressively at 52.28%, reflecting positive performance. With a TTM P/E ratio of 37.97, notably higher than the sector average, the stock may be considered relatively pricey. Analyst sentiment appears bullish, with 3 strong buy and 3 buy ratings. The company's solid financials, including a net profit of 23.27 Crores in the last quarter, coupled with a healthy promoter holding of 48.68%, indicate underlying strength. Moreover, despite slight fluctuations, mutual fund holdings have increased, potentially indicating institutional confidence.
Get more details about Venus Pipes & Tubes Ltd share price today here.
Know the Venus Pipes & Tubes Ltd share price history here.
D P Wires Ltd
D P Wires, currently trading at Rs 497.10, has experienced a slight decline of -0.88% from its last closing price, fluctuating between 529.35 and 495.00. Despite showing negative returns of -12.95% this year and -5.37% in the last 5 days, the company has maintained a TTM P/E ratio of 21.49, higher than the sector average of 16.11. With a net profit of 6.32 Crores in its last quarter and a promoter holding of 74.78%, D P Wires presents a stable position in the market, though its FII holding has decreased. Comparatively, its peers include Roshil Decor and Asian Granito India, positioning D P Wires within a competitive landscape.
Get more details about D P Wires Ltd share price today here.
Know the D P Wires Ltd share price history here.
JTL Infra Ltd
JTL Industries, trading at Rs 238.60, has seen a slight decline of -0.50% from its previous closing price but has shown resilience, trading within a range of Rs 242.00 and Rs 235.25. Over the past year, JTL has shown modest growth of 1.03%, with a notable uptick of 15.41% in the last five days. The company's TTM P/E ratio of 33.07 suggests a premium valuation, possibly reflecting market expectations. Its net profit of 30.18 Crores in the last quarter maintains investor confidence.
Get more details about JTL Infra Ltd share price today here.
Know the JTL Infra Ltd share price history here.
Shivalik Bimetal Controls Ltd
Shivalik Bimetal Controls, currently trading at Rs 577.55, has shown a slight decrease of -0.18% compared to its previous closing price. Despite fluctuating within the range of 583.85 and 571.05, the stock has yielded a positive return of 4.90% this year, while experiencing a marginal decline of -0.46% in the last five days. With a relatively high TTM P/E ratio of 39.70 compared to the sector average of 16.11, the company posted a net profit of 16.96 Crores in its last quarter. Notably, Shivalik Bimetal Controls boasts a significant promoter holding of 51.13% and has witnessed an increase in Mutual Fund holding, albeit a decrease in FII holding from the previous quarter.
Get more details about Shivalik Bimetal Controls Ltd share price today here.
Know the Shivalik Bimetal Controls Ltd share price history here.
Rajratan Global Wire Ltd
RAJRATAN GLO, currently trading at Rs 617.10, has exhibited a slight decrease of -0.36% from its previous closing price. The company has experienced fluctuations within a price range of Rs 613.35 to Rs 629.00. Despite a challenging year with a decline of -20.60% in its yearly performance and -3.03% over the last five days, the stock has shown resilience with a TTM P/E ratio of 41.02, notably higher than the sector average of 16.11. With a net profit of 20.24 Crores in the last quarter, RAJRATAN GLO has drawn attention from analysts, with 2 out of 4 initiating coverage giving it a strong buy rating. The company boasts a significant promoter holding of 65.14% and has seen fluctuating institutional investor interest, with MF holding decreasing and FII holding increasing over the last quarters.
Get more details about Rajratan Global Wire Ltd share price today here.
Know the Rajratan Global Wire Ltd share price history here.
Shyam Metalics and Energy Ltd
Shyam Metalics & Energy is trading 1.83% lower at Rs 610.00 compared to its previous closing price. Over the recent trading sessions, it has fluctuated within the price range of 629.70 and 606.70. Year-to-date, the stock has seen a decline of -1.06%, while in the last 5 days, it has decreased by -4.94%. The company's trailing 12 (TTM) price-to-earnings (P/E) ratio is 14.83, slightly lower than the sector average of 16.11. Among analysts covering the stock, 2 have given it a strong buy rating, while 1 has recommended selling. Shyam Metalics & Energy reported a net profit of 127.30 Crores in its last quarter. Promoter holding stands at 74.59%, with the remaining 25.02% held by the public. Mutual fund holding increased to 1.99% in the last quarter, while FII holding decreased to 2.35% in the same period. Listed peers of Shyam Metalics & Energy include KIOCL (4.32%)
Get more details about Shyam Metalics and Energy Ltd share price today here.
Know the Shyam Metalics and Energy Ltd share price history here.
Uni-Abex Alloy Products Ltd
Uni Abex Alloy Products is trading 0.71% higher at Rs 2,859.05 compared to its last closing price. It has been trading in the price range of Rs 2,925.00 and Rs 2,840.00. Year-to-date, Uni Abex Alloy Products has shown a decrease of -8.26%; over the last 5 days, it has gained 5.25%. The company's trailing twelve-months (TTM) price-to-earnings (P/E) ratio is 15.83, slightly lower than the sector P/E of 16.11. In its last quarter, Uni Abex Alloy Products posted a net profit of 10.46 Crores. The company's listed peers include Rhetan TMT (17.12%), Supershakti Metaliks (4.35%), and Uni Abex Alloy Products itself (0.71%). Uni Abex Alloy Products has a promoter holding of 63.62% and a public holding of 36.38%.
Get more details about Uni-Abex Alloy Products Ltd share price today here.
Know the Uni-Abex Alloy Products Ltd share price history here.
Steel Cast Ltd
Steelcast is trading 0.86% higher at Rs 653.65 compared to its last closing price. The stock has been fluctuating in the range of 656.50 to 649.00. Year-to-date, Steel Cast has shown a growth of 5.54%, while in the last 5 days, it has experienced a slight decline of -0.74%. With a TTM P/E ratio of 16.42, Steelcast is slightly higher than the sector P/E ratio of 16.11. The company reported a net profit of 17.42 Crores in its last quarter. Notable peers of Steelcast include BMW Industries (-0.86%) and Raghav Productivity Enhancers (-1.17%). Steelcast has a promoter holding of 45.00% and a public holding of 55.00%. As of 31 Mar 2024, FII holding in Steelcast stands at 0.01%, indicating a decrease from the previous quarter.
Get more details about Steel Cast Ltd share price today here.
Know the Steel Cast Ltd share price history here.
Tips for Investing in Steel Stocks
Keep the following guidelines in mind while investing in stainless steel stocks:
