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Jindal Steel surges on reporting 30% growth in steel sales to 4.4 mt in FY16

04 Apr 2016 Evaluate

Jindal Steel & Power is currently trading at Rs. 64.30, up by 0.80 points or 1.26% from its previous closing of Rs. 63.50 on the BSE.

The scrip opened at Rs. 64.90 and has touched a high and low of Rs. 65.50 and Rs. 63.15 respectively. So far 481416 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 169.55 on 07-Apr-2015 and a 52 week low of Rs. 48.20 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 65.50 and Rs. 55.65 respectively. The current market cap of the company is Rs. 5924.00 crore.

The promoters holding in the company stood at 61.89% while Institutions and Non-Institutions held 22.35% and 15.76% respectively.

Jindal Steel and Power (JSPL) has reported 30% growth in its consolidated steel sales to 4.4 million tonnes (mt) in FY16 as compared to 3.4 mt in FY15. The company’s consolidated production surged 24% to 4.5 mt as compared to 3.7 mt in 2014-15.

On a stand-alone basis, for March quarter, the company’s steel sales grew 37% to 1 mt from 0.74 mt in October-December while production was at 0.97 mt as against 0.78 mt during the same period.

The growth has been backed by a steady & gradual ramp up of company's Angul plant, which nearly doubled its production this financial year from 0.46 MT in FY14-15 to 0.9MT in FY15-16.

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.

Jindal Steel Share Price

1293.90 6.50 (0.50%)
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