JSW Steel Ltd.

Named in illegal mining scandal in the state of Karnataka, the steel company - JSW Steel is suffering as CBI has begun with its investigations by launching raids at erstwhile state chief minister BS Yeddyurappa's houses in Bangalore and Shimoga. The Supreme Court had directed the CBI to probe alleged involvement of Yeddyurappa, JSW Steel and Adani Enterprises in the scam and submit its report by August 03, 2012. Adding to its woes, the steel company reported a 9.62% fall in standalone net profit at Rs 752 crore for the quarter ended March 2012.

JSW Steel is currently trading at Rs. 621.35, down by 31.85 points or 4.88% from its previous closing of Rs. 653.20 on the BSE.

The scrip opened at Rs. 630.30 and has touched a high and low of Rs. 645.10 and Rs. 613.10 respectively. So far 436728 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 981.60 on 01-Jun-2011 and a 52 week low of Rs. 464.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 684.90 and Rs. 606.10 respectively. The current market cap of the company is Rs. 13752.94 crore.

The promoters holding in the company stood at 37.89% while Institutions and Non-Institutions held 25.76% and 35.18% respectively.  

Steelmaker JSW Steel has reported a 9.62% fall in standalone net profit at Rs 752 crore for the quarter ended March 2012. It was Rs 832 crore in the corresponding period a year ago. However, total income was up 33.91% at Rs 9,593 crore as against Rs 7,164 crore in March 2011.

For the financial year ended March 2012, JSW Steel’s standalone net profit dipped 19.10% to Rs 1,626 crore from Rs 2,010 crore in the previous financial year. Total income was up 36.86% though at Rs 32,302 crore as against Rs 23,602 crore in FY11.

The company announced a dividend of Rs 7.50 (75%) for every per share of Rs 10.