JSW Steel had reported a muted H1FY20 on the back of subdued demand from key user industries. While the management expects a pick-up in demand in H2FY20, it has also indicated that the volume lost in the first half are unlikely to be recouped during the second half. As a result, the company is now aiming to achieve ~97% of its erstwhile FY20 crude steel production and saleable steel sales volume guidance. For FY20E, in line with revised management guidance, we now model sales volume of 15.5 MT for current...