Business Standard

JSPL's all-round beat in Q4 leaves investors happy; stock rises over 13%

Operational performance is expected to remain good, and volume growth guidance too bodes well

jspl
Premium

Better steel realisations, both in India and Oman, too, helped

Ujjval Jauhari
Shares of Jindal Steel and Power Limited (JSPL) gained more than 13 per cent on Tuesday, while other steel stocks were up between 2 and 6 per cent. The trigger for JSPL was its all-round better-that-expected results for the March quarter (Q4), which were announced on Monday evening. This was enabled by continued benefits from expanded steel capacities at Angul (leading to economies of scale) and increasing usage of cheaper coal from captive Sarda mines. And, this trend is expected to continue.

Better steel realisations, both in India and Oman, too, helped. Steel price hikes in India (prior to lockdown)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 27 2020 | 2:16 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com