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JSW Ispat Steel drops as Q1 net loss widens

Capital Market / 15:19 , Nov 11, 2011

JSW Ispat Steel lost 3.29% to Rs 12.65 at 15:16 IST on BSE after the company posted net loss of Rs 345.30 crore in Q1 September 2011, higher than net loss of Rs 331.62 crore in Q1 September 2010.

The company declared the results on Thursday, 10 November 2011, when the stock market was closed for a local holiday.

Meanwhile, the BSE Sensex was down 195.32 points, or 1.12% ot 17,166.78.

On BSE, 5.12 lakh shares were traded in the counter as against average daily volume of 8.8 lakh shares in the past one quarter.

The stock hit a high of Rs 13 and a low of Rs 12.60 so far during the day. The stock had hit a 52-week low of Rs 12.25 on 3 October 2011. The stock had hit a 52-week high of Rs 26.15 on 20 December 2010.

The stock had underperformed the market over the past one month till 9 November 2011, gaining 2.59% compared with the Sensex's 6.96% return. The scrip had also underperformed the market in past one quarter, falling 14.23% as against 2.99% gain in the Sensex.

The mid-cap steel maker has an equity capital of Rs 2386.80 crore. Face value per share is Rs 10.

JSW Ispat Steel's net sales rose 22.2% to Rs 2633.41 crore in Q1 September 2011 over Q1 September 2010.

JSW Ispat Steel is into manufacturing of all types of galvanized plain/corrugated steel sheets/strips, coils and sponge iron.

 



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