JSP posted 5% Y-o-Y rise in Steel Sales during May 2022

Key Highlights

- Steel sales of 5.25lakh tonnes increased 5% Y-o-Y in May
- Production of 6.98 lakh tonnes were marginally higher Y-o-Y
- Exports accounted for 21% of sales in May 22

Notwithstanding challenging demand conditions and constant issues faced with regards to railway rake availability, JSP did well to report a 5% Y-o-Y increase in steel sales in the month of May 22. Monthly steel production was also up by a modest 1% (Y-o-Y). Exports accounted for 21% of steel sales for the May month.

In Apr-May period, JSP reported steel sales of 9.91 lakh tonnes and production of 13.76 lakh tonnes. Exports accounted for 18% of the sales in the first two months of FY23.

Shares of Jindal Steel & Power Limited was last trading in BSE at Rs. 348.10 as compared to the previous close of Rs. 350.35. The total number of shares traded during the day was 194181 in over 3819 trades.

The stock hit an intraday high of Rs. 358.60 and intraday low of 346.65. The net turnover during the day was Rs. 68281734.00.

Source : Equity Bulls

Keywords

JindalSteelandPower INE749A01030 JSP May2022 Production Sales