JSW Steel inches up after good production numbers for May

JSW Steel was up 1% to Rs 1,390.65 at 13:51 IST on BSE after the company's announcement that its total crude steel production rose 16% to 13.48 lakh tonnes in May 2016 over May 2015.

The announcement was made during market hours today, 8 June 2016.

Meanwhile, the S&P BSE Sensex was up 42.46 points or 0.16% at 27,052.13.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 57,000 shares in the past two weeks. The stock hit a high of Rs 1,397.55 and low of Rs 1,376 so far during the day. The stock had hit a record high of Rs 1,404.80 on 1 June 2016. The stock had hit a 52-week low of Rs 801 on 28 July 2015.

JSW Steel's production of flat rolled products rose 7% to 9.30 lakh tonnes in May 2016 over May 2015. Production of long rolled products rose 22% to 2.98 lakh tonnes in May 2016 over May 2015.

On consolidated basis, JSW Steel's net profit rose 174.5% to Rs 171.25 crore on 15.3% decline in net sales to Rs 10471.21 crore in Q4 March 2016 over Q4 March 2015.

JSW Steel is an integrated steel company with an installed capacity of 18 million tonnes per annum.

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