JSW Steel gained 3.28% to Rs 299.55 at 14:13 IST on BSE after the company said that crude steel production rose 5% to 1.46 million tonnes in January 2018 over January 2017.
The announcement was made during market hours today, 8 February 2018.Meanwhile, the S&P BSE Sensex was up 245.20 points, or 0.72% at 34,327.91.
On the BSE, 3.01 lakh shares were traded on the counter so far as against the average daily volumes of 3.43 lakh shares in the past one quarter. The stock had hit a high of Rs 302.20 and a low of Rs 290 so far during the day. The stock had hit a record high of Rs 313.95 on 2 February 2018 and a 52-week low of Rs 175.05 on 10 March 2017.
The stock had outperformed the market over the past one month till 7 February 2018, rising 1.59% compared with 0.21% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.97% as against Sensex's 2.13% rise. The scrip had also outperformed the market in past one year, jumping 53.43% as against Sensex's 20.28% rise.
The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Re 1.
Crude steel production of 1.46 million tonnes for January 2018 was the highest ever monthly production reported by the company. The production of flat rolled products declined 2% to 1.01 million tonnes in January 2018 over January 2017. Production of long rolled products jumped 24% to 0.37 million tonnes in January 2018 over January 2017.
Meanwhile, the company issued clarification after market hours yesterday, 7 February 2018 with respect to reports titled JSW Steel close to a deal for Monnet Ispat and Debt laden Bhushan Steel's stock roses 16% on JSW takeover reports.
The company said that it does not offer any comments on market rumors and speculation. However, as a long term strategy, the company continues to evaluate and pursue various opportunities, both organic and inorganic to achieve its long term vision including acquisition of stressed assets under corporate insolvency resolution as per Insolvency and Bankruptcy Code 2016.
JSW Steel's consolidated net profit jumped 147.8% to Rs 1774 crore on 28.1% rise in net sales to Rs 17669 crore in Q3 December 2017 over Q3 December 2016.
JSW Steel is the leading integrated steel company in India.
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