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Motilal Oswal Report
Jindal Steel and Power Ltd.'s near-term demand is tepid and demand decline is seen (especially last month) due to-
the ban on construction in the national capital region region due to severe pollution levels,
an extended monsoon,
weak sentiment in the international market – consumers are adopting the wait-and-watch policy, and
sufficient inventory lying with traders, who, in a falling market, would try and liquidate rather than accumulate.
However, pent-up demand is inevitable, as seen since the ebbing of the first Covid-19 wave.
JSPL's management highlighted that the pricing for longs products has corrected by Rs 4000/tonne. Rebar has corrected to Rs 58,000/tonne (from Rs 62,000/tonne in November). We believe the trade is operating at Rs 56,000/tonne.
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