Metals Q4 Results Preview - Non-Ferrous Players To Fare Better: ICICI Securities

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.We expect Q4 FY24 earnings to be a mixed bag for metal companies. Key points:Ferrous companies are likely to face the double whammy of lower prices and higher coking coal cost; non-ferrous players are likely to benefit from lower thermal coal cost; and NMDC may benefit from higher realisation/volume while Coal India is likely to see lower profitability owing to e-auction premium coming off. Going ahead, we expect better times for ferrous players as coking coal price has come off (will be reflected in P&L from Q1 FY25) and demand post general elections is likely to improve. In case of non-ferrous players, we see macro challenges receding, and hence, expect higher London Metal Exchange prices. Our key picks in the sector are Jindal Steel and Power Ltd. (Buy; target price: Rs 985), Jindal Stainless Ltd. (Buy; target price: Rs 770) and Shyam Metalics (Buy; target price: Rs 815)..Click on the attachment to read the full report:.Tata Communicatios Q4 Results Review - Business Integration Impacts Ebitda: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Metals Q4 Results Preview - Non-Ferrous Players To Fare Better: ICICI Securities

Profitability erosion for ferrous; lower cost to aid non-ferrous

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