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Morgan Stanley expects Coal India, JSW Steel to outperform in results
Morgan Stanley’s India Desk predicts strong performance for Coal India Limited and JSW Steel in their upcoming financial results, while Jindal Steel is expected to underperform. The forecast is based on an anticipated double-digit year-over-year growth in India’s crude steel production and improved finished steel demand driven by construction and government spending. Despite rising raw material costs, the firm expects an expansion in domestic earnings before interest, taxes, depreciation and amortization per tonne for covered companies.