JSW Steel shares slide 3 pc on output concerns

Shares of JSW Steel on Tuesday fell nearly three per cent after the company reported 7 per cent fall in crude steel output for November 2019.

On the BSE, the stock fell 2.96 per cent to close at Rs 251.1. Intra-day, it was trading at Rs 250.3, down 3.26 per cent.

The stock on NSE declined 2.97 per cent to close the counter at Rs 251.15. It touched the intra-day low value of Rs 250.3, down 3.3 per cent over the previous close.

The company on Monday posted 7 per cent fall in November 2019 crude steel output at 12.90 lakh tonne.

"The blast furnace, which was temporarily shut down in October, 2019 due to slowdown in auto demand, has recommenced operations in the last week of November, 2019," it said.

JSW Steel is the flagship company of the diversified USD 14 billion JSW Group which has a leading presence in sectors such as steel, energy, infrastructure, cement, sports, among others.