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Tata Steel Long Products achieved direct reduced iron (sponge iron) production of 243 thousand tons (KT) in Q1FY2022 compared to 266 KT in Q4FY21 and 134 KT in Q1FY21.
The company recorded crude steel production of 172 KT in Q1FY2022 compared to 186 KT in Q4FY21 and 121 KT in Q1FY21.
Sponge iron sales stood at 179 KT in Q1FY2022 compared to 171 KT in Q4FY21 and 104 KT in Q1FY21. Sales of salable steel stood at 162 KT in Q1FY2022 compared to 172 KT in Q4FY21 and 117 KT in Q1FY21.
Note - Note: i) Sales of sponge iron represents sales to external customers; ii) Sponge Iron production and sale represents both Gamharia and Joda.
Tata Steel Long Products - Q1FY22 Crude steel production and Sales volume increase by 42% YoY and 39% YoY equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
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Motilal Oswal has buy call on JSW Steel with a target price of Rs 816.0. The current market price of JSW Steel is Rs 676.8.
JSW Steel Ltd, incorporated in the year 1994, is a Large Cap company with a market cap of Rs 167875.96 Crore, operating in Metals - Ferrous sector.
JSW Steel s key Products/Revenue Segments include Hot Rolled Coils/Plates/Sheets, Rolled Product, Coils (Cold Rolled), Others, Coils & Sheets (Galvanised), Other Operating Revenue, Billets & Blooms, M S/S S Slabs for the year ending 31-Mar-2020.
Investment Rationale
Motilal Oswal said strong project pipeline to drive growth for the company. Motilal said, it likes JSW Steel given its strong project pipeline and cost reduction initiatives, which should support margin. Over FY21-23E, Motilal expects the above industry s 17 per cent volume CAGR, driven by the Dolvi expansion.