JSW Steel reported a healthy set of Q2FY17 numbers wherein the topline, EBITDA and PAT came in higher than our estimate. The better-than-expected performance was primarily on account of healthy sales volume. Sales volumes were at 3.84 million tonnes (MT), up 16.4% QoQ, 20.0% YoY and higher than our estimate of 3.5 MT. However, the EBITDA/tonne came in lower than our estimate on the back of higher-than-expected increase in operating costs. The gross consolidated topline for the quarter came in at | 14420.9 crore....