JSW Steel reports subdued crude steel production for April 2013 - Angel Broking

JSW Steel reported subdued crude steel production for the month of April 2013 due to annual shutdowns at their blast furnace facilities in Salem and Vijayanagar. The crude steel production declined by 11.0% yoy to 0.64mn tonnes. The flat rolled and long rolled steel production declined 13.0% and 17.0% yoy to 0.45mn and 0.13mn tonnes respectively. The capacity utilization at Vijayanagar plant was at 73% due to the annual maintenance shutdown.

We maintain our Neutral view on the stock.

Source : Equity Bulls

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