JSW Steel lost 2.95% to Rs 1,177.95 at 11:16 IST on BSE, With the stock sliding on profit booking after recent rally after total steel production rose 11% to 3.30 million tons in Q2 September 2014 over Q2 September 2013.
The announcement was made during market hours today, 10 October 2014.
Meanwhile, the S&P BSE Sensex was down 260.75 points or 0.98% at 26,376.53.
On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 69,000 shares in the past two weeks.
The stock hit a high of Rs 1,202 and a low of Rs 1,172.55 so far during the day.
Shares of JSW Steel had risen 5.37% in two trading sessions to settle at Rs 1,213.80 on Thursday, 9 October 2014, from a recent low of Rs 1,151.90 on 7 October 2014.
JSW Steel's production of flat rolled products rose 6% to 2.61 million tons in Q2 September 2014 over Q2 September 2013. Production of long rolled products jumped 21% to 0.56 million tons in Q2 September 2014 over Q2 September 2013.
JSW Steel's cumulative steel production rose 10% to 6.40 million tons in the first half of FY 2015 over the first half of FY 2014.
JSW Steel reported a consolidated net profit of Rs 656.49 crore in Q1 June 2014 as against net loss of Rs 381.82 crore in Q1 June 2013. Total income from operations rose 29.04% to Rs 13254.07 crore in Q1 June 2014 over Q1 June 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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