JSW Steel shares hit a new high after better-than-expected Q4 performance

Analysts up estimates as they see strong pricing outlook, softening input prices, higher share of value-added products and cost control to drive earnings

JSW Steel shares hit a new high on Thursday after the company reported better-than-expected March quarter (Q4) performance on Wednesday after market hours. Though the stock ended 1.3 per cent lower because of the weak markets and profit-booking in the counter following the recent rally, the company’s outlook remains strong.

Improving domestic steel realisations and demand continues to benefit steel players, many of whom are also gaining from capacity expansions. JSW Steel, which reported its highest-ever crude steel production and saleable volume at 4.31 million tonnes (mt) and 4.22 mt, up 5 and 7 per cent year-on-year (y-o-y), respectively, during