February 9, 2018 / 5:03 AM / 16 days ago

BUZZ-India's SAIL jumps, swings to profit after 10 straight quarterly losses

** Shares of Steel Authority of India rise as much as 7.33 pct to 92.33 rupees; mark biggest intraday pct gain since Nov 3, 2017

** Co snapped 10 consecutive qtrly losses to report profit of 431.6 mln rupees ($6.71 mln) in Dec qtr

** “Key positive surprise was better-than-expected realization, which was offset by higher material costs per ton, and steel spreads were in-line with estimates,” Morgan Stanley analysts write in a note with “Underweight” and PT of 61 rupees

** Two of 18 brokerages rate the stock “buy” or higher, one “hold” and the rest “sell” or lower; their median PT is 61 rupees

$1 = 64.3650 Indian rupees

0 : 0
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