*CLSA on JSW Steel: BQ Maintain Buy with TP of Rs 300*
Costs rose sequentially partly due to higher-cost coking coal inventory
Management positive on demand, pricing and cost outlook
Price hikes, lagged benefit of input cost decline and higher volumes to drive JSW’s margins
Better pricing/margin visibility due to anti-dumping duties
Tightening Indian steel demand-supply post FY19
Large value-accretive Dolvi expansion coming up in FY21

*Credit Suisse on JSW Steel: BQ Maintain Outperform; TP hiked to Rs 265 from Rs 240*

Results beat on strong performance from subsidiaries
Export prices rising and domestic prices still at a discount
FY18E/FY19E EPS rise 1%/3% due to result beat and higher steel prices
Remain constructive on the back of improving global steel prices