JSPL gains on recording 32% growth in steel sales in Q2FY22
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Jindal Steel & Power is currently trading at Rs. 420.50, up by 2.10 points or 0.50% from its previous closing of Rs. 418.40 on the BSE.
The scrip opened at Rs. 417.55 and has touched a high and low of Rs. 422.00 and Rs. 414.30 respectively. So far 347954 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 501.60 on 10-May-2021 and a 52 week low of Rs. 179.30 on 16-Oct-2020.
Last one week high and low of the scrip stood at Rs. 422.00 and Rs. 359.00 respectively. The current market cap of the company is Rs. 42843.70 crore.
The promoters holding in the company stood at 60.47%, while Institutions and Non-Institutions held 25.77% and 13.76% respectively.
Jindal Steel & Power (JSPL) has reported robust growth in sales and production in Q2FY22. JSPL’s steel sales volume surged 32% Quarter on Quarter (Q-o-Q) and 10% Year on Year (Y-o-Y) to hit a record of 2.13 million tonnes during the quarter. In Q2FY22 JSPL steel sales have first time breached 2 million tons for the quarter. Exports continue to boost sales with share of exports rising to greater than 40% in Q2FY22 (from 34% in Q1FY22 and 38% in Q2FY21).
Steel production also increased to 1.93 million tonnes in Q2FY22, posting a modest growth of 5% Y-o-Y. Inventory levels continue to decline as sales volume surpassed production for the third consecutive month in September 21.
Jindal Steel & Power is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.
