BSE – Bombay Stock Exchange

Live Stock Rates

Live Market Updates

Steel stocks in focus

India’s steel industry could be benefited from China’s new reforms which seek to take the country on the path of carbon neutrality by 2060. Steel prices have soared internationally, and domestic demand seems robust. Morgan Stanley and UBS said in recent notes that they see healthy demand going forward for steel which could help ease concerns for steel stocks.UBS also highlighted that the steel sector has rebounded strongly from COVID-19 disruption, with JSW Steel and TATA Steel reporting the highest ever quarterly EBITDA in the December quarter.
Tata Steel is Morgan Stanely top pick among the steel stocks. Morgan Stanley believes Tata Steel will not only benefit from the industry upcycle but this would help the company deleverage its balance sheet ahead of commitments.

Leave a Reply

Your email address will not be published. Required fields are marked *