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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-02-05||Jeevan Scientific Te..||HDFC Securities||44.70||44.70 (-61.86%)||Neutral|
Our NEUTRAL stance is premised on adequate valuations, more than any concerns on fundamental goodness of the business. JSW Steel (JSTL) reported a strong 3QFY18, beating our EBITDA/t estimate of Rs 7,920 handsomely at Rs 9,000 (27.2/20.5% YoY/QoQ), driven by stronger realisations (Rs 41,055/t, 30.9/8.6% YoY/QoQ). Volumes remained strong (3.97 mT, 3.4% YoY) as JSTL increased exports to 30% (from 26% in 2QFY18).