New Delhi, Jan. 22 -- Mumbai: JSW Steel stock has surged in the past three weeks in tandem with domestic steel prices after the government put a levy on cheaper imports.

The steelmaker's shares rose 5.7% since 30 December, outperforming the benchmark Sensex, which fell 3.3% over the same period. But this may have come a quarter too late, as the domestic market leader saw the prices of its product fall to an absolute low during the October-December quarter, rivalled only by the abnormal lows seen during the covid-19 pandemic.

Analysts estimate that lower iron ore costs will partly offset the impact of weaker steel prices and higher coking coal prices. Even so, the steelmaker's net profit is expected to fall sequentially for the second qu...