JSW Steel rating outlook revised to Stable from Rating Watch

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JSWSTEEL · price

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Price reactionminutes from the announcement price · days from the prior close

-0.2%Reaction day

₹1184.70

prior close

₹1183.00

announcement price

In-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.0%-0.2% vs market

Iron & Steel peers, median of 9sector-0.3%+0.1% vs sector

On the reaction day the stock moved 0.2 pts less than Nifty 100 and 0.1 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.4

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-0.2+0.0-0.2-0.3+0.1

Next day

-1.3+0.1-1.4-0.7-0.6

-0.8+0.5-1.3-1.2+0.4

-1.7+0.1-1.8-3.0+1.3

-1.4+0.5-1.9-3.1+1.7

-1.4+1.0-2.4-3.3+1.9

-6.0-0.2-5.9-7.4+1.4

15d

-2.9+0.2-3.2-7.0+4.0

-6.0+0.2-6.2-4.4-1.5

-0.6-0.8+0.2-4.0+3.5

+3.7-1.5+5.3+4.0-0.2

UpDownMarket · Nifty 100Sector · Iron & Steel peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

India Ratings affirmed JSW Steel's long-term issuer rating and NCD ratings at IND AA and revised the outlook to Stable from Rating Watch with Developing Implications. The change follows the Supreme Court upholding JSWL's INR193.5 billion acquisition of Bhushan Power and Steel. Net leverage is expected to improve to around 3.5x from FY26, supported by capacity ramp-up at Vijayanagar and BPSL. Capex of around INR761 billion is planned over FY26-FY29.

Likely market impact

Removal of rating watch is positive for shareholders. Stable outlook reflects resolved BPSL uncertainty and improving financial profile.