JSW Steel share price touches 52-week high on better production in Q4FY21

JSW Steel share price touches 52-week high on better production in Q4FY21

JSW Steel share price touches 52-week high on better production in Q4FY21

JSW Steel Ltd is an Indian steel-making company based in Mumbai, Maharashtra and it is one of the fastest-growing companies in India with a global footprint in over 140 countries. While the merger of ISPAT steel, JSW Steel has become India’s second-largest private sector steel company.

Now, JSW Steel’s share price on April 5th is Rs. 507.25 and it is trading flat even as wider markets are negative. While JSW Steel has moved from Rs. 444 to Rs. 508 in the last 1st week. In a report, Motilal Oswal has raised its FY22-23. However, EPS for JSW Steel by 42-48% to factor in improved Steel price outlook and accretion from the acquired assets of Bhushan Power and Steel (BPSL).

On the other side, JSW Steel’s share price touched a 52-week high of Rs. 573.90, rising 2 percent intraday on April 8th. While the company reported improved production in the fourth quarter of the financial year 2020-21. But, JSW Steel achieved crude steel production of 4.19 million tons in 4Q FY’21, the company said.

Moreover, the company’s average capacity utilization improved from 91 percent in the third quarter to 93 percent in the March quarter. However, the capacity utilization in March 2021 was 96 percent, it added.

Even though the average capacity utilization improved from 66 percent in Q1 2020-21 to 93 percent in Q4 2020-21. The crude steel production for FY 2020-21 was lower by 6 percent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21, the company said.

Production  4Q FY’21  3Q FY’21  4Q FY’20  Growth

QOQ

 Growth

YOY

Crude Steel (MnT)  4.19 4.08 3.97 2% 6%
Rolled Products: Flat (MnT)  2.99 2.98 2.87  – 4%
Rolled Products: Long (MnT)  1.05 0.93 0.95  13% 11%

However, the share price jumped 260 percent in the last year. While JSW Steel was quoting at Rs. 570, up to Rs. 7.70, or 1.37 percent, on the BSE.

3 thoughts on “JSW Steel share price touches 52-week high on better production in Q4FY21

Leave a Reply

Your email address will not be published. Required fields are marked *