JSPL top steel pick yet again, SAIL's debt clouds prospects https://ift.tt/LhWYRkD brokerage firms have raised the target price for shares of Jindal Steel and Power by 8-18% while retaining their 'buy' rating on the stock, which fell 5.2% to ₹662.25 on Monday. Jindal Steel's operating profit surpassed estimates helped by lower raw material costs and other operational efficiencies, while its debt levels fell to a 15-year low even after the company spent nearly ₹1,900 crore on capital expenditure during the quarter.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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