Out of all the Nifty Metal constituents, average consensus Bloomberg net profit estimates for JSW Steel Ltd. and APL Apollo Tubes Ltd. have been cut the most at 43% and 36%, respectively. Analysts now expect JSW Steel to see a 4.6% annual drop in fiscal 2025 net profits, compared to a 68% growth earlier. For APL Apollo Tubes, analysts expect revenues to grow 1.2% during the fiscal, compared to 60% earlier.
Other companies that saw earnings downgrades include Jindal Stainless, Jindal Steel & Power Ltd., JSW Steel, National Aluminium Co., NMDC Ltd., Ratnamani Metals & Tubes Ltd., Steel Authority of India Ltd. and Tata Steel Ltd.
Estimates of Hindustan Copper Ltd. were not available.
