JSW Steel drops amid volatility

JSW Steel lost 2.66% to Rs 1160.10 at 11:34 IST on BSE, with the stock sliding amid volatility after the company said its total crude steel production rose 8% to 3.10 million tonnes in Q1 June 2014 over Q1 June 2013.

The announcement was made during market hours today, 10 July 2014.

Meanwhile, the S&P BSE Sensex was down 182.38 points or 0.72% at 25,262.43.

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 86,026 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.13% at the day's low of Rs 1166.40 so far during the day. The stock rose as much as 0.59% at the day's high of Rs 1199 so far during the day. The stock hit a 52-week high of Rs 1324.50 on 11 June 2014. The stock hit a 52-week low of Rs 451.50 on 19 August 2013.

The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Rs 10.

JSW Steel's production of flat rolled products rose 9% to 2.43 million tonnes in Q1 June 2014 over Q1 June 2013. Production of long rolled products rose 16% to 0.52 million tonnes in Q1 June 2014 over Q1 June 2013.

JSW Steel's consolidated net profit rose 63.2% to Rs 482.83 crore on 43% growth in net sales to Rs 14088.11 crore in Q4 March 2014 over Q4 March 2013.

JSW Steel, the flagship company of the JSW Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, ports, and cement.

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