Numero uno position comes at seemingly expensive valuation… We perceive high probability of TSL doubling its capacity by FY22 if it is successful in acquiring Bhushan Steel and Bhushan Power & Steel, enabling it to become t
Standalone PAT level loss at Rs 767 mn was the lowest ever. Going ahead, we believe the company will continue to benefit from robust domestic longs prices (short term) and ramp-up in Angul volumes (long term).
The rise was driven by one-off increase in retail portfolio (impact of education loan given anticipated state dispensation). Meanwhile, SME and agri slippages were within trend, with marginal rise in corporate slippages (gran
We upgrade NMDC to Buy with a revised target price of Rs 195 (12x FY20E EPS, 7x FY20E Ebitda as we expect: (i) favourable tailwinds to lend impetus to volume growth; (ii) the recent price hike of 19-22% to largely sustain; an
We reiterate ‘buy’ on Jindal Steel & Power (JSPL) with an unchanged target price of Rs235 on the ensuing operating leverage benefits for the company with completion of its 3mtpa basic oxygen furnace (BOF) at Angul