Monday 5 August 2013

JSW Steel surges on reporting crude steel production jumps by 47% during July 2013

JSW Steel is currently trading at Rs. 535.40, up by 3.80 points or 0.71% from its previous closing of Rs. 531.60 on the BSE.


The scrip opened at Rs. 531.25 and has touched a high and low of Rs. 543.00 and Rs. 530.50 respectively. So far 20,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 893.75 on 29-Jan-2013 and a 52 week low of Rs. 515.20 on 31-Jul-2013.

Last one week high and low of the scrip stood at Rs. 575.00 and Rs. 515.20 respectively. The current market cap of the company is Rs. 11,945 crore.

The promoters holding in the company stood at 35.83% while Institutions and Non-Institutions held 24.09% and 40.08% respectively.

JSW Steel has reported monthly crude steel production for the month of July 2013 of its three manufacturing locations - Vijayanagar, Salem and Dolvi together. The crude steel production has seen growth of 47% during July 2013 at 9.91 lakh tonnes as against 6.76 lakh tonnes produced in the corresponding period of the previous year.

The production of rolled products (flat) increased by 64% to 7.96 lakh tonnes compared to 4.85 lakh tonnes in July last year. Meanwhile, the production of rolled products (long) during the month rose by 31% at 1.86 lakh tonnes as compared to 1.42 lakh tonnes in July, 2012.

The capacity utilization was lower at Vijayanagar works due to shutdown of one of its Corex furnaces for relining and capacity enhancement and the same is expected to recommence production by end of September 2013.

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