Overseas subsidiaries continue to incur losses
* We downgrade JSW Steel (JSWS) to ADD from BUY given the run-up in the stock price (~35% from Mar, ’20 end). High..
Road ahead is challenging; downgrade to Hold
* Indian business delivered a strong operating performance, with EBITDA of Rs12,187/t. However, we note that the bigger su..
MOIL cuts manganese ore prices for Q2 FY21 to reduce stocks
Manganese Ore India Ltd (MOIL), the largest manganese ore producer in India, reduced prices by up to 15% wi..
Subdued results, but extension of anti-dumping duty to boost outlook
* A 4.7% decline in volume and 2.7% fall in ASP resulted in a 7% qoq drop in topline, which also r..
FY21 to remain subdued, but FY22 looks promising; maintain Buy
* ASP miss of 8% resulted in lower-than-expected topline, which percolated to EBITDA miss. The plant was..
The government on Wednesday assured steel makers that it will take appropriate measures to reduce the logistics cost of products that currently reaches as high as 28 per ..
India: NMDC hikes iron ore price by 9-10% on tight availability
-NMDC increased iron ore prices from Chhattisgarh mines by INR 200-240/t w.e.f 30 Jun'20 --Domestic..
The auditors of Tata Steel have raised concerns regarding the 'material uncertainty' of its European arm due to the Covid-19 pandemic's severe impact on..
The much prolonged resolution of Bhushan Power and Steel Ltd, is stuck in its last leg as JSW Steel is not ready to pay the resolution amount unless the Enforcement Direc..
Below is the Quote On 4QFY20 results of Tata Steel by Mr. Jyoti Roy, DVP Equity Strategist, Angel Broking Ltd
“Tata Steel reported a 20.4% YoY de-growth in conso..
Tata Steel on Monday reported a consolidated net loss of 1,095.68 crore for the January-March quarter of the 2019-20 financial year.
During the same period of FY 2018-..
The company reported standalone net profit of Rs 22.99 crore for the quarter ended March 31, 2020 as compared to Rs 40.86 crore in the same period last year, registering ..
Rate decision, US stimulus likely constraints to rupee's further appreciation
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