India steel firms' Q4 margins to compress without price hikes - brokerage

Jindal Stainless

01/12/2023 06:35

** Brokerage Prabhudas Lilladher says India's steel cos may
witness margin compression in Q4 unless price hikes are
undertaken 
    ** Says coking coal prices have sharpened 21% q-o-q while
steel prices have slipped 3%
    ** Expect cos to take price hikes in tandem with global
steel prices, with domestic demand poised to improve post
festive season, state polls - note
    ** Brokerage rates Jindal Stainless  JIST.NS , Steel
Authority of India  SAIL.NS  with "accumulate" 
    ** Recommends "buy" for Tata Steel  TISC.NS , JSW Steel
 JSTL.NS  and Jindal Steel & Power  JNSP.NS  
    ** All 5 cos up between 0.2%-0.9% as of 11:50 a.m. IST,
Friday 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))