Jindal Stainless Q3 results review: Lower volume impacts standalone EBITDA, says Nuvama; downgrades to ‘hold’

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Jindal Stainless Q3 results review: Lower volume impacts standalone EBITDA, says Nuvama; downgrades to ‘hold’ Jindal Stainless's standalone EBITDA for Q3FY24 dropped by 4.5% QoQ due to lower volume, while EBITDA/t increased by 1.3% QoQ. Brokerage Nuvama Institutional Equities reduced FY24E/25E EBITDA for Jindal Stainless by 3.1% and 2% respectively, citing lower volume and profitability.