Morgan Stanley expects Coal India Ltd and JSW Steel to beat market expectations in upcoming earnings, while Jindal Steel to lag.
Indian crude steel output grew ~11% YoY in Jan‑Feb, with finished steel demand rising 8‑9% YoY, driven by construction and govt spending.
Domestic hot‑rolled coil and rebar prices jumped ~14% and ~15% QoQ to Rs6,600/tonne and Rs6,200/tonne respectively.
Coal India’s EBITDA projected at Rs119 bn (up from Rs93 bn) with PAT around Rs102 bn and realization gains of ~7% YoY.