JSPL shines on hiking TMT bars’ prices by Rs 800-1000/ tonne

Jindal Steel & Power (JSPL) is currently trading at Rs. 243.40, up by 4.50 points or 1.88 % from its previous closing of Rs. 238.90 on the BSE. The scrip opened at Rs. 240.75 and has touched a high and low of Rs. 245.40 and Rs. 239.65 respectively. So far 115560 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 338.40 on 08-May-2013 and a 52 week low of Rs. 181.55 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 278.90 and Rs. 237.30 respectively. The current market cap of the company is Rs. 22350.66 crore. The promoters holding in the company stood at 60.41%, while Institutions and Non-Institutions held 26.45% and 13.14% respectively. Jindal Steel & Power (JSPL) has hiked TMT bars’ prices by Rs 800-1000/ tonne for May. Moreover, the company has kept other long and flat products' prices unchanged. Recently, the company posted a fall of 9.76% in its net profit at Rs 430.83 crore for the quarter ended March 31, 2014 as compared to Rs 477.45 crore for the same quarter in the previous year. Total income of the company decreased by 12.15% to Rs 3820.56 crore for quarter under review as compared to Rs 4349.45 crore for the quarter ended March 31, 2013. JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.