CMP : 906
Target Price :
Steel price declines hurt margins: JSW Steels standalone revenues for 2QFY2016
come in at Rs9,653cr, in line with our estimate of Rs9,345cr. Raw Material expenses
for the quarter, at ~Rs5,458cr, are 2.5% below our expectation, led by decline in
iron ore and coking coal prices. The EBITDA however declined by 40% yoy, owing
to a sharp decli..