JSW Cement shares rose 3% to Rs 142.70 after Jefferies initiated coverage with a target price of Rs 170, signaling 23% upside. The brokerage expects 35% EBITDA CAGR over FY25-28, supported by IPO proceeds of Rs 1,600 crore. JSW leads India’s GGBS market, driving strong margins, and plans rapid expansion into North India to boost growth and profitability.