BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Commodity price tailwinds coupled with QoQ improvement in volumes is expected to aid domestic metal companies to report a healthy performance in Q2 FY22E.
During Q2FY22E, average steel prices are likely to be QoQ higher by ~Rs 1000-2500/tonne versus Q1 FY22.
Despite a sharp rise, coking coal costs are likely to witness only a marginal increase in Q2 FY22E due to a lag in consumption as steel companies generally maintain a month or two of coking coal inventory.
For Q2 FY22E we expect steel companies to report QoQ improvement in sales volumes on the back of easing of lockdown restrictions.
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