JSW Steel share price gains nearly 3% on better production
The crude steel production in May was up 10 percent at 13.67 lakh tonnes against 12.48 lakh tonnes in the year-ago period.
June 10, 2021 / 10:04 AM IST
JSW Steel share price gained nearly 3 percent in the morning trade on June 10 on better crude steel production in May 2021. The crude steel production in May was at 13.67 lakh tonnes against 12.48 lakh tonnes in May 2020, up 10 percent.
The capacity utilisation remained at 91 percent in May as liquid oxygen supplies were over 30,000 tonnes for medical purposes, as against over 20000 tonnes in April’21.
Recently, the company paid Rs 498.50 crore, taking the total receipt to Rs 723.50 crore, from the Business Transfer Agreement (BTA) between Company (purchaser) and Welspun Corp (seller) for the acquisition of the business of manufacturing of high-grade steel plates and coil.
At 0953 hours, JSW Steel was quoting at Rs 710.05, up Rs 12.10, or 1.73 percent on the BSE.
The share touched a 52-week high of Rs 773 on May 10, 2021 and a 52-week low of Rs 175.95 on June 12, 2020. It is trading 8.14 percent below its 52-week high and 303.55 percent above its 52-week low.