India's JSW Steel declines ahead of Q1 results
** Shares of JSW Steel JSTL.NS down ~2% to 914.45 rupees ahead of results
** Analysts expect the country's top steelmaker by market cap to post a more than 55% fall in Q1 consol profit to 10.44 bln rupees (around $125 mln), per LSEG data
** Morgan Stanley said in a note that domestic demand and sales in the quarter were lukewarm on the back of national elections-related slowdown
** Adds exports moderated as prices turned unfavourable
** Weak domestic demand and a seasonally-weak quarter have decreased sales volumes for JSTL - Systematix
** Most analysts say a fall in coking coal costs, key raw material for steelmakers to cap some losses
** Slump in JSTL shares comes as Indian shares witness broad-based profit booking near record high levels .BO
** Analysts' avg rating on JSTL stock is "Hold", in line with ratings on peer Tata Steel TISC.NS, while Jindal Steel JNSP.NS is rated "Buy"
($1 = 83.6690 Indian rupees)
Reporting by Manvi Pant in Bengaluru
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