JSW Steel’s (CMP: Rs 214; Market capitalization: Rs 51,730 crore) June quarter results beat the Street’s expectations. It has maintained its production and sales volume guidance of 16 million tonnes and 15 million tonnes for FY21, which would require a quarterly run-rate of more than 4 million tonnes for the rest of FY21. Steel prices likely to recover During the June quarter, JSW’s net sales realization was lower by Rs 4,500 per tonne due to higher export volumes and a...
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