JSPL share price rises 2% on Indian Railways' status allotment
With this, Indian Railways, its subsidiary and track laying contractors can source 60kg 880 grade (90UTS) rails manufactured by JSPL.
December 30, 2020 / 09:39 AM IST
Jindal Steel and Power Limited (JSPL) share price added 2 percent in the early trade on December 30 after the company received regular supplier status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.
With this, Indian Railways, its subsidiary and track-laying contractors can source 60kg 880 grade (90UTS) rails manufactured by JSPL and utilize them for their ongoing and upcoming projects, company said in the release.
The company is also supplying 1080 grade Head Hardened rails to Rail Vikas Nigam for construction of Kolkata Metro rail tracks and had also exported more than 2 Lakh tonnes of rails.
Earlier RDSO approved the 1080 grade HH rails of JSPL manufactured at its Raigarh plant in Chattisgarh, it added.
"We are happy that Indian Railways has awarded regular supplier status to JSPL made 60kg 880 grade (90UTS) Rails. It would be a big push towards an AtmaNirbhar Bharat. And it is a good achievement for our rail business. We are thankful to RDSO and Ministry of Railways for field performance approval of UIC 60 kg, 880 Grade prime (Class- A) rails of JSPL”, said Mr V R Sharma, MD, JSPL.
At 09:22 hrs Jindal Steel & Power was quoting at Rs 261.80, up Rs 2.40, or 0.93 percent on the BSE.
The share touched its 52-week high Rs 287.35 and 52-week low Rs 62.10 on 17 December, 2020 and 03 April, 2020, respectively.
Currently, it is trading 8.89 percent below its 52-week high and 321.58 percent above its 52-week low.