JSW Steel surges on posting combined crude steel production of 5.98 MT in Q4FY22
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JSW Steel is currently trading at Rs. 756.40, up by 28.25 points or 3.88% from its previous closing of Rs. 728.15 on the BSE.
The scrip opened at Rs. 730.10 and has touched a high and low of Rs. 762.00 and Rs. 730.10 respectively. So far 294180 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 776.50 on 06-Aug-2021 and a 52 week low of Rs. 563.30 on 08-Apr-2021.
Last one week high and low of the scrip stood at Rs. 762.00 and Rs. 726.05 respectively. The current market cap of the company is Rs. 183225.31 crore.
The promoters holding in the company stood at 44.71%, while Institutions and Non-Institutions held 20.10% and 35.19% respectively.
JSW Steel has posted a combined crude steel production of 5.98 million tonne (MT) for the quarter ended March 31, 2022 (Q4FY22), including the production at jointly controlled entity viz. JSW Ispat Special Products. At 5.98 MT, the production was 37 per cent higher compared to 4.36 MT steel the company had produced in the year-ago period.
On a standalone basis, the company’s output grew by 20 per cent to 5.01 MT during Q4FY22 from 4.19 MT in the year-ago quarter. The capacity utilisation of existing operations at standalone level improved from 94 per cent in October-December period (Q3FY22) to 98 per cent in (Q4FY22).
During the entire FY 2021-22, the company has posted a growth of 38 per cent in its combined steel production to 21.47 MT, compared to 15.53 MT in the 2020-21 fiscal. The company's output on a standalone basis in FY22 was at 17.62 MT, up 17 per cent from 15.08 MT in the preceding financial year.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
