Preview: India's JSW Steel rises ahead of quarterly results
BUZZ-PREVIEW-India's JSW Steel rises ahead of quarterly results ** Shares of India's JSW Steel JSTL.NS rise 0.9% to 1,231.60 rupees ahead of first quarter results
** On an average, analysts expect Mumbai-based steelmaker's June-quarter profit to jump 42% to 31.11 bln rupees ($323 mln) Y/Y - data compiled by LSEG
** Analysts also expect co's Q1 total revenue to grow 3.85% Y/Y to 448.07 bln rupees - LSEG compiled data
** UBS expects JSW Steel's adjusted EBITDA to rise about 11% year-on-year, helped by improved steel realizations despite lower production
** JM Financial expects higher steel realizations to offset seasonally weaker volumes, with JSW Steel's EBITDA per tonne improving about 20% sequentially
** JSTL rated "buy" on average by 33 analysts, median PT at 1,400 rupees - LSEG compiled data
** YTD, stock up ~6%
($1 = 96.3025 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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