JSW Steel reports crude steel production numbers for May 2013 - Angel Broking

JSW Steel reported crude steel production numbers for May 2013 after its merger with JSW Ispat w.e.f 1st June 2013. The Crude steel production for May 2013 from all the three plants namely, Vijayanagar, Salem and Dolvi grew by 40.0% yoy to 1mn tonne. The rolled flat and rolled long production grew by 57.0% and 13.0% yoy to 0.8mn tonne and 0.2mn tonne respectively. However, these numbers are not directly comparable to their May 2012 figures since May 2012 numbers does not include contribution from the erstwhile JSW Ispat's Dolvi plant because the appointed date for the scheme of amalgamation was 1st July 2012.

We maintain our Neutral view on JSW Steel.

Source : Equity Bulls

Keywords