Morgan Stanley Bullish on Coal India and JSW Steel Ahead of Earnings

Morgan Stanley has issued a positive outlook for the Indian metals and mining sector, highlighting Coal India and JSW Steel as potential outperformers in their upcoming financial reports. The bank anticipates double-digit year-over-year growth in India's crude steel production, supported by robust government infrastructure spending and a thriving construction sector. While raw material costs remain a factor, analysts expect an expansion in EBITDA per tonne for leading producers. Conversely, Jindal Steel is projected to underperform relative to its peers during this earnings cycle. This bullish sentiment reflects strong domestic demand for finished steel across the Indian market. Overall, the NIFTY METAL index remains a key focus for investors tracking these industrial developments.