SAIL's result highlights strong gains from higher steel prices in the business model 3QFY21 EBITDA was up 147% YoY to INR50.8b, the highest ever. Net debt also fell sharply by 12% QoQ to INR443.0b. Spot steel prices are ~INR7,000/t, above the 3QFY21 average, which should drive 24% QoQ growth in EBITDA in 4QFY21, even after factoring in wage...