Maharashtra Seamless (MSL) reported a good set of Q3FY17 numbers wherein topline, EBITDA both came in above our estimates. A better-than-expected topline was driven by higher-than-expected sales volume. The seamless pipes sales volume for the quarter came in at 55453 tonne (up 100.2% YoY, 28.2% QoQ) notably higher than our estimate of 44000 tonne. The ERW sales volume for the quarter came in at 21735 tonne (up 58.1% YoY, 23.6% QoQ) notably higher than our estimate of 17500 tonne. Total pipes sales volume came in at...