Productivity Climbs And So Does JSW Steel

JSW Steel LimitedAfter recording a growth of 18% in crude steel production in July 2007 over July 2006, JSW Steel was trading up 0.79% to Rs 699.30.

In the meantime, the BSE Sensex was up 221 points to 15,207 chasing recovery in Asian stocks. Asian stocks arose today after a second consecutive session of gains on Wall Street on Thursday, 2 August 2007.

There were 29,267 shares for trading on the counter today, and its average daily volume in the last three months stood at 1.58 lakh shares.

During the day, the company’s share hit a high of Rs 708.95 and a low of Rs 697.25. The scrip has had its 52-week high of Rs 771.40 on 24 July 2007 and a 52-week low of Rs 235.05 on 9 August 2006.

Over the last one month to 2 August 2007, JSW climbed 8.75% compared to Sensex’s return of 0.71%. It had outperformed the market over the last quarter, climbing 15.10 % as against the Sensex’s increase of 7.55%.

In crude steel production in July 2007, JSW has recorded an increase of 18% to 2.37 lakh tonnes over July 2006. Hot rolled (HR) coils production arose 9% to 2.14 lakh tonnes in July 2007 over July 2006. The production of HR plates also developed 15% to 0.18 lakh tonnes in July 2007 over July 2006.

The company has posted a 151.19% increase in its net profit that reached Rs 427.78 crore in Q1 June 2007. Sales also climbed 37.23% to Rs 2190.72 crore Q1 June 2007 over Q1 June 2006.