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JSW Steel loses luster on production drop in Q2

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dropped 1.3% to Rs 255 at 14:55 on after the company said that its crude steel production fell 1% to 3.94 million tonnes in Q2 September 2017 over Q2 September 2016.

The company made the announcement during market hours today, 9 October 2017.

Meanwhile, the S&P Sensex was up 138.76 points, or 0.46% at 30,977.25.

On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 4.45 lakh shares in the past one quarter. The stock had hit a high of Rs 260.40 and a low of Rs 253.60 so far during the day. The stock had hit a record high of Rs 271.80 on 12 September 2017 and a 52-week low of Rs 151.43 on 26 December 2016.

The stock had underperformed the market over the past one month till 6 October 2017, falling 1.94% compared with the Sensex's 0.48% gains. The stock had, however, outperformed the market over the past one quarter, gaining 21.15% as against the Sensex's 1.42% rise. The scrip had also outperformed the market over the past one year, gaining 45.79% as against the Sensex's 13.19% rise.

The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Re 1.

said that production of flat rolled products rose 1% to 2.89 million tonnes in Q2 September 2017 over Q2 September 2016. Production of long rolled products declined 2% to 0.77 million tonnes in Q2 September 2017 over Q2 September 2016.

JSW Steel's consolidated net profit fell 43.1% to Rs 624 crore on 25.3% rise in net sales to Rs 14479 crore in Q1 June 2017 over Q1 June 2016.

is the leading integrated steel company in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 15:01 IST
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