Axis Securities turns bullish on SAIL, upgrades to ‘buy’ with Rs 130 target

SAIL shares: The brokerage firm believes that SAIL is more sensitive to steel and coking coal prices. A Rs 1,000/t rise in Hot Rolled Coils (HRC) prices boosts SAIL’s EBITDA by 15% (compared to 4% for Tata Steel), while a $10/t drop in coking coal prices increases EBITDA by 10%.

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