The domestic steel industry continued its struggle with high steel imports during the period. In October and November combined, India recorded steel imports totaling 1.83 million tons, with China and Korea accounting for 30% and 34%, respectively.
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Systematix Research Report
We expect metals, mining, and pipe companies under our coverage to report mixed results this quarter. Non-ferrous companies will lead the pack, followed by a select few names in the primary steel, mining, and steel pipes space that are likely to outperform the peer group.
From a bird's eye view, revenue/Ebitda/profit after tax are estimated to grow by 4%/9%/11% YoY this quarter.
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