BHFC's 3QFY21 performance was weak as realizations declined to 3- year low by ~11% YoY to Rs2.03L/ton (PLe Rs2.33L/ton). This was led by weak sales in oil & gas segment (sales at USD3m v/s normalized rate of USD25-30m) and higher PV share. Tonnage growth of 8% was led by strong traction in auto demand in both India and exports. While pickup is visible in class 8 trucks for...