External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Steel Authority of India / Equity Bottom-Up

<ul><li>SAIL’s EBITDA/tonne witnessed pressure in Q3FY22 mainly due to higher coking coal prices.</li><li>Saleable steel production came in line with our estimate and stood robust at 4.4 Mnt, up over 5% YoY and 1% QoQ</li><li>We maintain a BUY rating on the stock and value it at 4.0x FY24E EBITDA to arrive at a target price of Rs 125/share (Rs 150/share earlier), implying an upside of 21% from the CMP</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

SAIL’s EBITDA/tonne witnessed pressure in Q3FY22 mainly due to higher coking coal prices.Saleable steel production came in line with our estimate and stood robust at 4.4 Mnt, up over 5% YoY and 1% QoQWe maintain a BUY rating on the stock and value it at 4.0x FY24E EBITDA to arrive at a target price of Rs 125/share (Rs 150/share earlier), implying an upside of 21% from the CMPContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SAIL: Margin Pressure To Persist In Q4; Steel Demand Outlook Positive