Citi maintains Sell on SAIL, raises TP to ₹180 citing strong Q4 EBITDA growth from higher realizations.
Upside limited by rising coking coal costs, wage revision risks, heavy capex, and reliance on debottlenecking.
Livesquawk •
Morgan Stanley maintains Underweight on SAIL with a ₹140 target, citing weaker volumes and realizations offset by lower costs.
It expects margin expansion in Q1FY27 from higher steel prices but views FY27 volume guidance of 22MT as overly optimistic.