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Updated on: Tuesday, January 11, 2022, 03:03 PM IST

Jefferies finds risk-reward for India steel far inferior to a year ago

Jefferies also expects EPS falling 44 per cent/21 per cent YoY for Tata Steel/JSW Steel in FY23.
The Chinese demand is shifting from urbanization and industrial development to new economy infra such as renewables and EVs, stated Jefferies.  | Photo credit: Twitter

The Chinese demand is shifting from urbanization and industrial development to new economy infra such as renewables and EVs, stated Jefferies. | Photo credit: Twitter

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Foreign brokerage Jefferies stated that it finds risk-reward for the country's steel far inferior to a year ago and downgraded Indian steel stocks.

"We believe margins for Indian steel companies have peaked and will go lower by FY23 and reduced FY23 EPS for Tata steel/JSW Steel by 18 per cent/26 per cent," stated Jefferies.

Jefferies also expects EPS falling 44 per cent/21 per cent YoY for Tata steel/JSW Steel in FY23.

The Chinese demand is shifting from urbanization and industrial development to new economy infra such as renewables and EVs, stated Jefferies.

(With inputs from IANS)

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Published on: Tuesday, January 11, 2022, 03:03 PM IST
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