SAIL's Q2FY22 result was ahead of our expectations; Its EBITDA/tonne jumped 2.7x YoY to Rs16,395 backed by strong improvement in realizations. Overall, EBITDA increased to Rs70 bn compared to EBITDA of Rs19 bn in Q2FY21. Importantly, SAIL's net debt fell by Rs133 bn to Rs219 bn in H1FY22 and the company aims to become net debt free by...