Steel cycle weak, but JSW–JFE deal strengthens balance sheet and future margins: Parag Thakkar

JSW Steel’s JFE partnership is a “game changer”, says Fort Capital’s Parag Thakkar, as the deal cuts debt by ₹37,250 crore and strengthens long-term expansion plans. Thakkar also sees PSU bank corrections as strong buying opportunities, led by robust credit growth and low-cost deposits. He remains bullish on India’s economic outlook and cautious on over-heated defence stocks.