JSPL's Forward march continues, Standalone Production rises by 15% (YoY) in November 2020

India's leading steel manufacturer Jindal Steel & Power Limited (JSPL) has reported robust growth in Steel Production. The company witnessed year on year growth of 15% in Standalone Steel Production with 6,14,000 tonnes in November 2020 as compared to 533,000 tonnes of Standalone Steel Production a year ago during the same period. Company's Standalone Sales also rises with 562,000 tonnes in November 2020 as compared to Standalone Sales of 557,000 tonnes in the previous year during the same period.

The export sales contributed to 21% of total sales volumes in November 2020. Company's exports also grew at a rate of 10% (Y-o-Y) in November 2020.

"Our performance is in line with the India Growth Story, Domestic Steel demand is rising in H2 FY 21 and so JSPL's production. With domestic markets recovering the company is focusing more on value-added products. We believe the company's portfolio will witness further strength in the Q3 & Q4 of the financial year" Said VR Sharma, Managing Director, JSPL in a statement.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.259.95 as compared to the previous close of Rs. 259.45. The total number of shares traded during the day was 533768 in over 3890 trades.

The stock hit an intraday high of Rs. 264.2 and intraday low of 258.65. The net turnover during the day was Rs. 139985916.

Source : Equity Bulls

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