JSW Steel share price touches 52-week high on better production in Q4FY21
The share price has jumped 260 percent in the last one year.
April 08, 2021 / 10:13 AM IST
JSW Steel share price touched a 52-week high of Rs 573.90, rising 2 percent intraday on April 8, after the company reported improved production in the fourth quarter of the financial year 2020-21.
JSW Steel achieved crude steel production of 4.19 million tons in 4Q FY’21, a growth of 2 percent QoQ and 6 percent YoY, the company said in a press release.
The company’s average capacity utilisation improved from 91 percentin the third quarter to 93 percent in the March quarter. However, the capacity utilisation in March 2021 was 96 percent, it added.
Even though the average capacity utilisation improved from 66 percent in Q1 2020-21 to 93 percent in Q4 2020-21, the crude steel production for FY 2020-21 was lower by 6 percent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21, the company said.
The share price jumped 260 percent in the last one year.
At 0954 hours, JSW Steel was quoting at Rs 570, up Rs 7.70, or 1.37 percent, on the BSE.