Why steel stocks target prices are up 30-40%

Mumbai: Steel demand is reviving – and so are the stock-price targets of the companies that make the primary infrastructure alloy.Several brokers have raised the target prices of top steel company stocks by at least 30-40%. Analysts believe that steel price increases, paced by improved domestic demand, should boost second-quarter performance. “We raise our earnings (Ebitda) forecasts to 13-62% for F2021, 8-21% for F2022 which lifts our price