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JSPL gains on decent Q3 outcome

Capital Market / 09:30 , Jan 19, 2012

Jindal Steel & Power rose 1.26% at Rs 516.40 at 9:27 IST on BSE after consolidated net profit rose 6.5% to Rs 996.68 crore on 37.4% increase in net sales to Rs 4354.51 crore in Q3 December 2011 over Q3 December 2010.

The result was announced after market hours on Wednesday, 18 January 2012.

Meanwhile, the BSE Sensex was up 189.86 points, or 1.15%, to 16,641.33.

On BSE, 20,000 shares were traded in the counter as against an average daily volume of 1.72 lakh shares in the past one quarter.

The stock hit a high of Rs 520.45 and a low of Rs 512.15 so far during the day. The stock had hit a 52-week low of Rs 435.55 on 29 December 2011. The stock had hit a 52-week high of Rs 723.50 on 6 April 2011.

The stock had underperformed the market over the past one month until 18 January 2012, sliding 1.23% compared with the Sensex's 6.20% rise. The scrip had, however, outperformed the market in past one quarter, falling 1.10% as against 1.77% fall in the Sensex.

The large-cap steel and power producer has an equity capital of Rs 93.48 crore. Face value per share is Re 1.

Jindal Steel & Power (JSPL) reported an increase in sales of steel products (up 18%), pellets (up 124%) and power (up 37%), while its pig iron sales were down by about 60% in Q3 December 2011 over Q3 December 2010.

JSPL said it commissioned two units of 135 megawatts (MW) (one unit at Dongamahua in Raigarh, Chhattisgarh and one unit at Angul in Odisha) on 18 January 2012. With this total 6 units have been commissioned in series of total 10 units of 135 MW.

Jindal Steel & Power is one of India's major steel producers, with a significant presence in sectors like mining, power generation and infrastructure.

 



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