JSPL - August 2020 steel production - Angel Broking

Mr. Jyoti Roy , DVP- Equity Strategist, Angel Broking Ltd

"Jindal Steel & Power Limited has recorded a 38% YoY growth in consolidated Steel Sales to 8,36,000 tonnes in August 2020 while Consolidated Steel Production was up by 21% YoY to 8,25,000 tonnes. JSPL's standalone Steel Production was up by 18% YoY to 6,25,000 while standalone sales was up by 37% YoY to 6,82,000 tonnes. JSPL continues to report robust sales numbers given the company's continued focus on exports which continues to drive growth despite slowdown in domestic steel demand. We believe that the company will continue to focus on exports for some time till the time domestic steel demand does not normalize."

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.221.3 as compared to the previous close of Rs. 221.35. The total number of shares traded during the day was 1426903 in over 6635 trades.

The stock hit an intraday high of Rs. 225.85 and intraday low of 219.15. The net turnover during the day was Rs. 317843949.

Source : Equity Bulls

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