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New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

Strong <keyword id="141166" type="General" weightage="20" keywordseo="domestic-demand" source="Orion">domestic demand</keyword>, supported by government spending on infrastructure, building and construction segments, is expected to keep <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s <keyword id="164590" type="General" weightage="20" keywordseo="steel-imports" source="Orion">steel imports</keyword> elevated around the 6 million tonne (MT) mark this financial year even as the global <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">steel</keyword> industry battles a slowdown, according to rating agency Crisil. Global steel demand, which has been subdued since the onset of the Russia-Ukraine conflict, is expected to grow 1.6 per cent in 2023 after a sharp fall of 3.3 per cent in 2022, the rating agency said in a report. Indeed, even that tepid rate of growth rides largely on a buoyant 13 per cent growth in demand in India, which has bucked the trend so far. This fiscal, the steel sector in India is poised to clock its third consecutive year of double-digit growth, at 11-13 per cent year-on-year, after growing 11.4 per cent and 13.4 per cent in fiscals 2022 and 2023, respectively. According to the rating agency, demand in <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword>, the world's largest producer of the commodity, has started reviving after a three-year slump. However, oversupply has led to subdued <keyword id="6366990" type="General" weightage="20" keywordseo="prices" source="Orion">prices</keyword>. "Over the past few months, Chinese mills have been facing margin pressure, mainly due to high raw material prices and a depreciating yuan. Although the Chinese government is trying to keep demand afloat with infrastructure spending and relaxing policies on property ownership, real estate continues to be in a recessionary phase," the rating agency noted. Chinese mills have started pushing volumes into the global market at highly competitive prices. Between January and November this year, exports from China increased by 35.6 per cent to 82.7 million tonnes -- the highest since 2016. Chinese exports to India have also surged. Strong growth momentum has supported steel prices in India, and import volumes have increased significantly, driven by better realisation opportunities. As of November this fiscal, India had imported 4.26 million tonnes of finished steel, up 13.4 per cent year-on-year even as its exports declined 6.2 per cent to 4.03 million tonnes, making the country a net importer of finished steel. Among the ports, Mumbai remains the preferred destination for both alloy and non-alloy imports, accounting for 40 per cent of the total imports, followed by Mundra and Chennai. "This imbalance of volume at the ports leads to regional disparities in domestic prices. For instance, although prices of flat products corrected across India in November, the fall in trader prices was more significant in Mumbai compared with other major domestic steel markets," the rating agency noted.

Firm domestic demand to keep India's steel imports elevated in 2023-24: Crisil

The rupee witnessed range-bound trading against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Wednesday and fell 3 paise amid a negative trend in domestic <keyword id="19925781" type="General" weightage="20" keywordseo="equities" source="keywords">equities</keyword>. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.45 and lost further ground to trade at 83.46 against the greenback in initial deals, registering a decrease of 3 paise from its previous closing level. On Tuesday, the rupee appreciated 4 paise and settled at 83.46 against the greenback. "The Indian rupee closed higher on Tuesday and opened flat with most Asian currencies range-bound to weaker. Rupee is expected to remain in a range of 83.35 to 83.55 with dips to be bought by importers," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally higher by 0.05 per cent at 105.66. Brent crude futures, the global oil benchmark, were trading 0.42 per cent higher at USD 85.37 per barrel. In the domestic equity market, the 30-share BSE Sensex declined 81.42 points, or 0.10 per cent, to 77,972.10 points. The broader NSE Nifty fell 36.05 points, or 0.15 per cent, to 23,685.25 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 1,175.91 crore, according to exchange data. Meanwhile, Reserve Bank Governor Shaktikanta Das on Tuesday asserted that the high interest rates are not impeding growth, and made it clear that the monetary policy will "unambiguously" focus on getting down inflation going forward. The country is at the threshold of a "major structural shift" in its growth trajectory and is moving towards a path where 8 per cent real GDP growth can be sustained on a yearly basis, Das said addressing an event by Bombay Chamber of Commerce and Industry. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

Rupee trades in narrow range against US dollar in early trade

<ul><li>At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a tepid note on Wednesday, led by mixed cues from the global markets. The Indian markets ended at record highs on Tuesday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. On Tuesday, the US stocks pulled back from record highs as hopes for $2,000 direct stimulus payments faded. The Dow Jones Industrial Average closed 0.22% lower, and the S&amp;P 500 was down 8 points. These are the stocks to watch out for during the trading session today: Jindal Stainless Jindal Stainless Hisar (JSHL) said its board had approved the company’s merger into the country’s largest stainless steel maker Jindal Stainless Ltd (JSL). Having a total melting capacity of 0.8 million tonnes per annum (MTPA), Hisar-based JSHL is the largest speciality stainless steel producer in India with a diversified value-added product portfolio. Future Retail &amp; RIL After Amazon, the<a href="https://www.timesnownews.com/business-economy/companies/article/future-retail-writes-to-sebi-asks-to-expedite-review-of-deal-with-reliance-retail-quickly/700431"> Kishore Biyani-led Future Group has written to market</a> regulator SEBI to review and approve its ₹24,713 crore deal with RIL. Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon had urged that the review of the “impugned transaction” be suspended. Jindal Steel &amp; Power Jindal Steel and Power (JSPL) said it had received the ‘regular rail supplier’ status from the Indian Railways. In a statement, JSPL said it had become the first private company in India to be awarded the ‘regular supplier’ status from the national transporter. SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks will be in focus during the trade today. The <a href="https://timesofindia.indiatimes.com/business/india-business/financial-sector-faces-challenging-times-ahead-rbi/articleshow/80015883.cms">Reserve Bank of India (RBI) in a report</a> on Tuesday said the India's financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans. UPL UPL has completed the pre-payment of $410 million of 3.25% Senior Notes due October 2021. The company said that the pre-payment, which concluded on December 28, was done using the cash on its balance sheet. This prepayment is in line with its commitment to reduce debt. TCS &amp; Wipro The ₹16,000-crore buyback of Tata Consultancy Services, which will end on January 1, has received an overwhelming response from investors and has been subscribed 163% so far. Similarly, for Wipro, today is the second day to <a href="https://www.businessinsider.in/stock-market/news/wipro-share-buyback-offer-should-you-sell-your-shares-heres-what-analysts-are-saying/articleshow/80006272.cms">subscribe to ₹9,500 crore buyback</a>. The issue for Wipro will close on January 11. IRCTC Indian Railways will operate a special Mumbai-Delhi Rajdhani train 4 days a week. IIFL Securities The ₹90-crore share buyback for IIFL Securities will open today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/mitch-mcconnell-says-the-senate-will-consider-trumps-demand-for-2000-stimulus-checks-but-rejects-initial-vote/articleshow/80017236.cms" data-type="tilCustomLink">Mitch McConnell says the Senate will consider Trump's demand for $2,000 stimulus checks but rejects initial vote</a> <a href="https://www.businessinsider.in/thelife/news/american-airlines-just-completed-the-boeing-737-maxs-first-passenger-flight-in-the-us-since-march-2019/articleshow/80016117.cms" data-type="tilCustomLink">American Airlines just completed the Boeing 737 Max's first passenger flight in the US since March 2019</a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink">The new strain of COVID-19 is a lot more contagious, warns India's Health Ministry</a>

Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others

Mumbai, Mar 15 (PTI) Equity benchmarks <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> turned choppy on Tuesday, tracking weakness in index-heavyweight IT stocks amid a mixed trend in Asian equities. Despite opening with strong gains, the 30-share Sensex turned volatile to trade 150 points lower to 56,333.72. The broader NSE Nifty fell 28.50 points to 16,842.80. From the 30-share Sensex pack, Tata Steel, Infosys, Tech Mahindra, HCL Tech and TCS and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> were the prominent losers. On the other hand, <keyword id="6365618" type="General" weightage="20" keywordseo="maruti-suzuki-india" source="Orion">Maruti Suzuki India</keyword>, Mahindra &amp; Mahindra, <keyword id="6355596" type="General" weightage="20" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, Asian Paints, <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, and HDFC were among the gainers. In the previous trade, the Sensex jumped 935.72 points or 1.68 per cent to settle at 56,486.02. Similarly, the Nifty climbed 240.85 points or 1.45 per cent to settle at 16,871.30. Bourses in Hong Kong and Shanghai were quoting over 2 per cent lower, while Tokyo was trading marginally higher during the mid-session deals. Stock exchanges in the US settled on a mixed note in the overnight trade. Meanwhile, international oil benchmark Brent crude declined 3.73 per cent to USD 102.9 a barrel. Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 176.52 crore on a net basis on Monday, according to exchange data. Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/epfo-continues-to-give-attractive-interests-rate-compared-to-other-government-schemes/articleshow/90210522.cms">EPFO continues to give attractive interests rate compared to other government schemes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/gail-is-hiring-engineers-with-a-maximum-pay-scale-of-180000-per-month-deadline-tomorrow/articleshow/90216108.cms">GAIL is hiring engineers with a maximum pay scale of ₹1,80,000 per month, deadline tomorrow</a>

Sensex, Nifty off to a volatile start; Tata Steel, Infosys, Tech Mahindra, HCL Tech, TCS and Wipro big losers among Sensex 30 stocks

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

Mumbai, Jan 10 () Tata Steel on Friday said its Netherlands subsidiary has executed agreements for the refinancing of its bank debt and has raised term-loan facilities of EUR 1.75 billion from 19 banks.
 Tata Steel Netherlands Holdings B V (TSNHBV), a 100 per cent subsidiary of Tata Steel Ltd, has raised the long-term fund.
 "This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019, enabling the standalone European business to have a more robust balance sheet, while it is also putting in significant efforts at restructuring and improving its operating performance," the company said in a statement.
 The facilities have also been contracted at favourable terms and more efficient pricing, besides extending the maturity profile relative to the existing ones, it added.
 "The new financing has more flexible terms and better pricing that will provide greater financial headroom to the business in the coming years," said Koushik Chatterjee, executive director and chief financial officer, Tata Steel.
 The Company was able to complete this financing despite all the volatility in the financial markets, demonstrating the strong confidence enjoyed by Tata Steel in the financial community, the official added.
 Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum.
 It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. NKD CS HRS

Tata Steel's Netherlands subsidiary raises Eur 1.75 bn to refinance debt

New Delhi, Jan 27 () Shares of JSW Steel on Monday fell by over 4 per cent after the company reported a 88 per cent decline in consolidated net profit for the December 2019 quarter.
 The scrip tanked 3.35 per cent to close at Rs 262.85 on the BSE. During the day, it dropped 5 per cent to Rs 258.35.
 On the NSE, it fell 4.24 per cent to close at Rs 260.35.
 In traded volume terms, 4.64 lakh shares of the company were traded on the BSE and 1.7 crore units exchanged hands on the NSE.
 JSW Steel reported a 88 per cent decline in consolidated net profit to Rs 187 crore for the December 2019 quarter, mainly due to lower net sales realisation that pulled down the revenues.
 The company had reported a profit after tax (PAT) of Rs 1,603 crore in the corresponding quarter of the previous financial year.
 Its consolidated income during the October-December 2019 period was Rs 18,182 crore, registering a fall of 10.6 per cent over the year-ago period.
 "2019, especially the July-September quarter, witnessed an adverse impact of global economic slowdown on the steel industry with the production increasing significantly on one hand and prices falling, on the other hand. Similar trend was seen in the second quarter of 2019-20 in India, which was a major setback for domestic steel manufacturers," the company's Joint MD and Group CFO Seshagiri Rao had told reporters in Mumbai. 
 During the quarter, net sales realisations declined 7 per cent sequentially and 23 per cent year-on-year. 
 



 SUM RUJ
RUJ

JSW Steel shares fall over 4 pc after disappointing Dec qtr results

Mumbai, International quick-service restaurant chain, <keyword id="9903617" type="COMPANY" weightage="20" keywordseo="burger-king-india-ltd">Burger King India Ltd</keyword> (BKIL) began its journey on Indian bourses with a stupendous opening garnering a premium of over 130% on the first day of trade on Monday hitting the upper circuit just after 2.30 p.m. Against the issue price of ₹60, <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> stock opened at ₹115.35 on BSE, while on the National Stock Exchange, shares made a debut at %112.50, a premium of over 87% over the <keyword id="72231" type="PERSON" weightage="20" keywordseo="IPO-price">IPO price</keyword>. After 2.30 p.m., the stock reached the upper price band of ₹138.40, 130.67% higher than the issue price on BSE. The upper circuit halts the trading in stocks for some time. The performance of the stock had even defied projections made by analysts who had expected Burger King to list at around 70-75% premium over issue price. "Such listing was in line with our expectation as the company issue was priced at a significant discount compared to listed peers such as Jubilant FoodWorks (Domino's Pizza) and Westlife Development (McDonald). Short term investors can book profit. We advise long term investors to stay invested in the company as there is ample scope available for the company to increase its business in India," Keshav Lahoti Associate Equity Analyst, Angel Broking Ltd said, "Even after such bumper listing, there is no issue with the valuation of the company. In the future, we expect the company to gain market share by opening more stores compared to the competitors. As the store count will increase, operating leverage will kick in and the company will be able to report profit and it will lead re-rating of the multiple for the stock," he added. BKIL enjoys exclusive <keyword id="10435142" type="COMPANY" weightage="20" keywordseo="national-master-franchisee-rights">National Master Franchisee Rights</keyword> in India till December 31, 2039, with an obligation to develop and open at least 700 restaurants by December 2026. It is one of the fastest growing QSR chain India with 268 restaurants spread across 17 states/UTs and 57 cities. It has already garnered 5% market share in India's ₹34,800 crore QSR market. According to Motilal Oswal Financial Services, Over FY18-20, BKIL's Revenue/EBITDA grew at a CAGR of 49%/258% led by 2x the store strength. However, it continues to make losses at PAT level. The same store sales growth stood at 12.2%/29.2% in FY18/FY19 while it surprisingly became flat in FY20. In 1HFY21, revenue declined 68% <keyword id="63194" type="PERSON" weightage="20" keywordseo="YoY">YoY</keyword>, while it made losses at EBITDA and PAT levels due to the Covid-19 impact. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-airtel-vodafone-idea-tcs-tata-steel-cams-nmdc-and-others/articleshow/79732131.cms">Top stocks to watch — RIL, Airtel, Vodafone-idea, TCS, Tata Steel, CAMS, NMDC and others</a> <a href="https://www.businessinsider.in/tech/news/comparing-the-apple-m1-macbook-vs-the-intel-macbook/articleshow/79733783.cms">Apple vs Intel – Comparing the Apple M1 MacBook vs the Intel MacBook</a>

You Searched For "HRC steel price Mumbai" and got 9 results

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

ANI

Firm domestic demand to keep India's steel imports elevated in 2023-24: Crisil

ANI

Rupee trades in narrow range against US dollar in early trade

PTI

Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others

Navdeep Yadav

Sensex, Nifty off to a volatile start; Tata Steel, Infosys, Tech Mahindra, HCL Tech, TCS and Wipro big losers among Sensex 30 stocks

PTI

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

Navdeep Yadav

Tata Steel's Netherlands subsidiary raises Eur 1.75 bn to refinance debt

PTI

JSW Steel shares fall over 4 pc after disappointing Dec qtr results

PTI

Burger King India roll-on bourses continue — shares locked in 20% upper circuit

IANS

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