JSW Steel gains after posting good growth in crude steel production in October

JSW steel rose 1.02% to Rs 1,617.15 at 12:15 IST on BSE after the company said that crude steel production rose 31% to 13.35 lakh tonnes in October 2016 over October 2015.

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

Meanwhile, the BSE Sensex was down 32.46 points, or 0.12%, to 27,426.53.

On BSE, so far 17,546 shares were traded in the counter as against average daily volume of 55,546 shares in the past one quarter. The stock hit a high of Rs 1,628.50 and a low of Rs 1,605 so far during the day. The stock had hit a record high of Rs 1,886.50 on 8 September 2016. The stock had hit a 52-week low of Rs 855.55 on 9 November 2015. The stock underperformed the market over the past one month till 7 November 2016, falling 9.79% compared with Sensex's 2.15% decline. The scrip also underperformed the market in past one quarter, dropping 7.89% as against Sensex's 2.21% fall.

 

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

JSW Steel said that the production of flat rolled products rose 30% to 9.58 lakh tonnes in October 2016 over October 2015. The production of long rolled products rose 36% to 2.79 lakh tonnes in October 2016 over October 2015.

On consolidated basis, JSW Steel's net profit jumped 1191.3% to Rs 726.46 crore on 22% rise in net sales to Rs 12986.63 crore in Q2 September 2016 over Q2 September 2015.

JSW Steel is an integrated steel company and a part of JSW group.

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