Motilal Oswal - MOSL: METALS WEEKLY-Base metal prices increase; long steel product prices continue rising

Report

Motilal Oswal

MOSL: METALS WEEKLY-Base metal prices increase; long steel product prices continue rising

METALS WEEKLY: Base metal prices increase; long steel product prices continue rising

Indian steel: Long product (TMT Mumbai) prices were up ~3% WoW. Sponge iron prices were up ~1% WoW, while scrap prices were marginally lower. NMDC raised iron ore lump/fines prices by INR150/t. A few domestic private miners also increased iron ore prices. Domestic HRC prices were unchanged. HRC import and export offers were also unchanged.
Raw materials: Iron ore prices (China cfr) were up ~1% WoW. Thermal coal prices were unchanged. Coking coal prices were also unchanged. China's pellet import prices were marginally lower. Chinese graphite electrode prices were down ~8% WoW.
Europe: HRC prices were marginally lower. CIS HRC export prices were down ~3% WoW. Rotterdam scrap prices were up 8% WoW.
China steel prices: Chinese local rebar prices were down ~2% WoW, while HRC prices were down ~1% WoW. Export prices of rebar were up ~1% and HRC prices were unchanged.
Base metals: Aluminum (cash LME) prices were up ~5% WoW. Alumina prices were unchanged. Copper (cash LME) prices were up ~3% WoW. Zinc (cash LME) prices were up ~2%, while lead prices were up ~3% WoW. Brent crude prices were up ~2% WoW.

04/09/2018 28 EN

Provider

Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

See profile

Other Reports from Motilal Oswal

Abhijit Tibrewal

Abhijit Tibrewal

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality (HOMEFIRS IN, Mkt Cap USD0.9b, CMP INR802, TP INR1025, 28% Upside, Buy) HomeFirst’s 2QFY23 PAT grew 21% YoY/6% QoQ to INR543m (in-line). Credit costs grew 37% QoQ to INR50m (MOFSLe: INR31m). Underlying this, the NII grew 58% YoY to ~INR1b (in-line). ‘Other income’ grew 13% QoQ, driven primarily by higher treasury gains and investment income. Opex was 7% higher than estimated and grew 47% YoY and 14% QoQ, led by investments in new branches and resultant higher employee expenses. Disbursements grew 36%...

EUR 120.00

October 21, 2022 October 21, 2022 12 EN

Aliasgar Shakir

Aliasgar Shakir

MOSL : SHOPPERS STOP: Ticking the right boxes

. SHOPPERS STOP: Ticking the right boxes (SHOP IN, Mkt Cap USD1b, CMP INR780, TP INR805, 3% Upside, Neutral) Aided by price hikes, SHOP reported a healthy 19% revenue growth in 2QFY23 from pre-COVID levels (8% beat) on healthy (+10%) SSSG and sustained volumes. EBITDA grew 2.3x YoY (22% over pre-COVID levels), with a 540bp margin improvement. 1) A strong recovery in revenue, backed by an improved pricing; 2) expansion within the Beauty and Private Label segment; and 3) healthy annual 12/15 store additions for SHOP/Beauty are expected to drive business growth going forward. We expect a r...

EUR 120.00

October 21, 2022 October 21, 2022 13 EN

Tushar Manudhane

Tushar Manudhane

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities (ERIS IN, Mkt Cap USD1.2b, CMP INR708, TP INR860, 21% Upside, Buy) Eris Lifesciences (ERIS) delivered better than expected 2QFY23 performance, led by superior traction in new launches and improved operating leverage. ERIS is notonly sustaining the momentum in its recently launched products, but it is also preparing itself for an aggressive pace of new introductions. We reiterate our earnings estimate for FY23/FY24 and continue to value ERIS at 22x 12M forward earnings to arrive at a price target of INR860. We re...

EUR 120.00

October 21, 2022 October 21, 2022 11 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

MOSL: METALS WEEKLY-Base metal prices increase; long steel product prices continue rising

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe