JSPL moves up on reporting 27% rise in steel sales at 6.85 lakh tonnes in December
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Jindal Steel & Power is currently trading at Rs. 392.50, up by 4.30 points or 1.11% from its previous closing of Rs. 388.20 on the BSE.
The scrip opened at Rs. 388.30 and has touched a high and low of Rs. 395.15 and Rs. 386.25 respectively. So far 97443 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. 257.50 on 01-Feb-2021.
Last one week high and low of the scrip stood at Rs. 395.15 and Rs. 369.00 respectively. The current market cap of the company is Rs. 40206.77 crore.
The promoters holding in the company stood at 60.47%, while Institutions and Non-Institutions held 25.62% and 13.91% respectively.
Jindal Steel and Power (JSPL) has posted a strong recovery in Steel sales sequentially in December 2021. The company has reported steel sales of 6.85 lakh tonnes, up 27% Month on Month (M-o-M).
JSPL's Steel sales would have been higher but for the impact of the non-availability of railway rakes for the third consecutive month. Steel sales of 1.82MT in Q3FY22 were also constrained due to limited rake availability and unseasonal rains in several states. Exports accounted for 28% of Steel sales in December 2021 and 23% for the quarter.
Besides, the company has reported steel production of 5.904 million tonnes as of December 31, 2021, which is a 9% rise as compared to last year for the same period.
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.
