JSPL stock jumps 2% on recording 13% growth in standalone steel production during Oct 2020

The production stood at 585,000 metric tons compared to 518,000 metric tons in the same month last year.

Nov 23, 2020 08:11 IST India Infoline News Service

Jindal Steel & Power Limited (JSPL) was in focus on Monday's trading session as the company has registered a 13% growth in standalone steel production in October 2020. The production stood at 585,000 metric tons compared to 518,000 metric tons in the same month last year.

With that, JSPL's standalone sales rose by 10% (Y-o-Y) in October 2020 with 600,000 metric tons as compared to Standalone Sales of 547,000 metric tons in the previous year during the same period.

Meanwhile, the company's export sales contributed to 28% of total sales volumes in October 2020. Company’s exports also grew at a rate of 37% (Y-o-Y) in October 2020.

JSPL said, "The Company reports Ever Highest Pellet production of 701,500 MT in October 2020. JSPL also reports Ever Highest wire rod production of 49,062 MT in October 2020."

At around 1.54 pm, JSPL was trading at Rs241.45 per piece up 2.05% on Sensex. The stock has gained to an intraday high of Rs245.70 per piece. 

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