External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

Thematic (Sector/Industry)

India Financials / Thematic (Sector/Industry)

<ul><li>Maintain positive outlook for the Indian steel sector: Continued healthy steel demand should support absorption of recent price increases, helping expand gross margins even after factoring in higher coking coal and iron ore costs.</li><li>We remain positive on the sector and have marginally reduced EBITDA estimates to reflect lower than expected margin expansion in Q4FY26.</li><li>We retain BUY ratings on Tata Steel, JSW Steel, and Jindal Steel, and ADD ratings on APAT and SAIL.</li></ul><p><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></p>

Maintain positive outlook for the Indian steel sector: Continued healthy steel demand should support absorption of recent price increases, helping expand gross margins even after factoring in higher coking coal and iron ore costs.We remain positive on the sector and have marginally reduced EBITDA estimates to reflect lower than expected margin expansion in Q4FY26.We retain BUY ratings on Tata Steel, JSW Steel, and Jindal Steel, and ADD ratings on APAT and SAIL.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.

Metals (Q4FY26 Results Preview): Steel price recovery to drive margin uptick