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JSW Steel falls despite production revving up over 20% in February

Currently, it is trading 18.75 percent below its 52-week high and 59.04 percent above its 52-week low

March 08, 2022 / 09:48 AM IST
JSW Steel

JSW Steel

 
 
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JSW Steel share price declined over 1 percent intraday on March 8 despite the company reporting better crude steel production for the month of February.

"JSW Steel reported crude steel production for the month of February at 15.80 lakh tonnes, up 21% year on year on standalone basis," the company said in its release.

The production of ‘Rolled Products : Flat’ rose 25 percent at 11.54 lakh tonnes and ‘Rolled Products : Long’ jumped 8 percent at 3.67 lakh tonnes.

Average utilisation of expanded capacity was 88 percent; the use was 98 percent excluding Dolvi expansion project, the company added.

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At 09:34 hrs JSW Steel was quoting at Rs 630.90, down Rs 6.45 or 1.01 percent on the BSE.

The share touched a 52-week high of Rs 776.50 and a 52-week low of Rs 396.70 on 6 August 2021 and 9 March 2021 respectively.

Currently, it is trading 18.75 percent below its 52-week high and 59.04 percent above its 52-week low.
Moneycontrol News
first published: Mar 8, 2022 09:48 am