JSW Steel up over 5%
JSW Steel is up 5.5% at Rs.667.50, with an intra day high and low at Rs.668.15 and Rs.635 respectively. Volumes though remain muted at 65,000 shares.
The stock is reacting today on the Press Release which the company had issued on 13th Sept, stating its August production numbers. The company has stated that its crude steel production in August rose 29% (yoY) at 985,000 tonnes. Production of flat rolled products grew 60% at 824,000 tonnes but that of long rolled products fell 13% at 128,000 tonnes. The company had shut down one of its corex furnaces at its Vijayanagar plant in Karnataka, for relining and capacity enhancement and is expected to recommence production this month. Capacity utilization at Vijaynagar plant was at 80% due to iron ore shortage.