JSW Steel slips 3%; crude steel production down 17% in Jan 2016

Moneycontrol BureauShares of JSW Steel slipped 3.5 percent intraday Tuesday as its crude steel production declined to 9.27 lakh tonne in the month of January 2016.The company had reported 11.20 lakh tonne of crude steel production in January 2015.

*All figures in lakh tonnesIn the press release company said, "The crude steel production in January 2016 declined due to planned shutdown of one blast furnace each at all three locations viz. Vijayanagar, Dolvi and Salem; for capacity enhancement which are expected to resume production during February 2016.""The company's plant at Vijayanagar is one of the largest single location steel producing facility in the country with a capacity of 10 MTPA," it added.The company had posted a consolidated net loss of Rs 923 crore for October-December quarter (against profit of Rs 329 crore in year-ago period) on impairment charges.At 12:32 hrs JSW Steel was quoting at Rs 1,018.45, down Rs 30.90, or 2.94 percent on the BSE.Posted by Rakesh Patil