JSPL stays above 4% after announcing strong Q3 steel production

Price of Jindal Steel and Power Ltd (JSPL) shares remained up by 4 per cent throughout the day, after it reported its highest ever quarterly domestic production of crude steel and related products in the quarter ended December 31, 2019.

The scrip rallied 4.5 per cent to Rs 173.85 on the BSE at 2.52 pm and at NSE, it climbed 4.45 per cent to Rs 173.80.

Advertisement

The company on Thursday announced its domestic production of crude steel and related products stood at 1.61 million tonnes (MT), up 22 per cent from the year ago period, in the for the quarter ended December 31, 2019.

According to JSPL, this is the “highest ever quarterly domestic production of crude steel and related products… as a result of strong and consistence performance across all locations, especially in Angul operations,”.

Its crude steel output had stood at 1.32 million tonnes in the corresponding period last year, the statement added.

(With input from agencies)