scorecardresearchSteelmakers and investors unhappy as Govt increases export duty on iron ore and steel products; brokerages cut targets

Steelmakers and investors unhappy as Govt increases export duty on iron ore and steel products; brokerages cut targets

Updated: 25 May 2022, 07:38 AM IST
TL;DR.
The brokerage estimates that while the FY23 numbers of steel firms will be hit by this move, FY24 numbers should remain unchanged. It has already assumed a 4,000-5,000/tonne lower EBITDA/t for all companies except SAIL.
The brokerage estimates that while the FY23 numbers of steel firms will be hit by this move, FY24 numbers should remain unchanged. It has already assumed a  <span class='webrupee'>₹</span>4,000-5,000/tonne lower EBITDA/t for all companies except SAIL. Photographer: Andrew Caballero-Reynolds/Bloomberg

The brokerage estimates that while the FY23 numbers of steel firms will be hit by this move, FY24 numbers should remain unchanged. It has already assumed a 4,000-5,000/tonne lower EBITDA/t for all companies except SAIL. Photographer: Andrew Caballero-Reynolds/Bloomberg