advises users to check with certified experts before taking any investment decisions.Most Sony Xperia phones have a physical camera button on the side. We maintain Accumulate rating with TP of Rs 810 based on EV/EBITDA of 6.5x FY23e.įor all recommendations report, click hereĭisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. Led by favorable business dynamics and strong outlook on volume growth, Nevertheless, margins are significantly above historical averages by ~30% in spite of astronomical input prices.
As expected, margins were expected to soften due to unsustainable coking coal prices. Given the restricted supplies of Chinese steel in its domestic and exports markets, global steel prices are expected to remain elevated further supported by all-time high coking coal prices. While, the impact of lower demand has been equally negated by stringent curbs on production.
Sentiments on Chinese demand turned negative across the major steel consuming sectors. Lower earnings in standalone were offset by better performance in subsidiaries. Domestic steel margins impacted due to lower realisations and higher costs. Steel (JSTL) reported Q2FY22 EBITDA in-line with our and consensus estimates. Prabhudas Lilladher's research report on JSW Steel
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