Jindal Steel & Power reports 25 per cent steel sales growth in July 2020
Jindal Steel & Power Limited (JSPL) informed the bourses on Tuesday about its July 2020 sales. JSPL’s steel sales (including pig iron) during the month of July surged nearly 29 per cent to 6,37,000 tonnes from 4,93,000 tonnes in the corresponding month of the previous year. The export accounted for nearly 39 per cent of the total sales in July 2020 (2,50,000 tonnes).
JSPL’s consolidated steel sales during July 2020 soared 25 per cent to 7,62,000 tonnes from 6,11,000 tonnes sales in the same period last year.
The standalone steel production grew 13 per cent to 6,03,000 tonnes in July 2020 from July 2019. Also, consolidated steel production grew by 13 per cent YoY to 7,40,000 tonnes.
Furthermore, Jindal Shadeed Iron & Steel (JSIS) Oman reported an 11 per cent YoY increase in production to 1,37,000 tonnes while its sales volume grew by 6 per cent YoY to 1,25,00 tonnes.
The stock of JSPL in today’s trading session opened higher at Rs 192.4 as against Rs 190.65 and later, it surged nearly 2 per cent to touch an intraday high of Rs 194.50 apiece.
JSPL has a dominant presence in steel, power, mining, and infrastructure sectors.