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BUZZ-Indian metal companies seen to report strong Q1 - Jefferies

Mon 16th July, 2018 9:27am
** Indian metal companies are expected to report strong
earnings in June quarter, as steel firms will benefit from the
recent price hikes - Jefferies
    ** Tata Steel's  TISC.NS  group EBITDA is expected to be
about 72 bln rupees ($1.05 bln), a rise of 11 pct compared with
the previous quarter - Broker 
    ** Jefferies sees Hindalco Industries Ltd's  HALC.NS  India
business post a 14 pct EBITDA growth to 18.3 bln rupees Q/Q
    ** Steel Authority of India  SAIL.NS  is expected to show
Q/Q EBITDA growth of 2 pct, while volumes are seen falling 12
pct Q/Q, and input costs rising due to higher coking coal costs
- Jefferies
    ** Focus will remain on the outlook, with domestic steel
prices down 3 pct-10 pct led by a lull in seasonal demand, the
brokerage adds
    ** Warns regional prices/spreads could be moderate as
Chinese output remains high, and demand may recede after a
seasonally strong period

    ($1 = 68.6750 Indian rupees)

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outside U.S. +91 806749 1480;))
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