business / news / / Business Standard
Goldman Sachs has initiated coverage of Indian metal (steel) stocks.
Goldman Sachs initiated coverage on Indian steel stocks, naming JSW Steel and Shyam Metalics as top picks.
KEY POINTS
- India is now the main driver of global steel demand growth as China's dominance fades.
- Indian steel producers enjoy structural cost advantages, with domestic iron ore priced 25-35% below global levels.
- Goldman projects India's steel consumption will nearly double to 212 million tonnes by FY32, a 6.8% CAGR.
- Government policies and safeguard duties until FY28 are expected to support domestic steel pricing and utilization.
COMPANIES
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