JSW Steel Posts 18% Growth in Crude Steel Production in April 2007

JSW Steel Ltd has announced that the Company has registered a growth of 18% in crude steel production in April 2007. The Company has recorded healthy growth in all the products. The break-up of product-wise production is as below:

Product: Crude Steel
Production Lakh tonnes (April 07): 2.16
Growth Over April '06 (%): 18%

Product: HR Coils
Production Lakh tonnes (April 07): 1.94
Growth Over April '06 (%): 271%

Product: HR Plates
Production Lakh tonnes (April 07): 0.14
Growth Over April '06(%): 13%

Product: Galvanised
Production Lakh tonnes (April 07): 0.60
Growth Over April '06 (%): 45%

Product: Pre-painted GI
Production Lakh tonnes (April 07): 0.07
Growth Over April '06 (%): 373%

The Company showed a flat growth in volumes sequentially in HR / Coated products, but reported higher volumes over corresponding month of previous year since the production was lower in April’06 due to shutdown of Hot strip mill for modernization. However, Crude steel production increased by 18% in spite of shutdown of one of the hot metal furnaces for around 12 days in April’ 07.

The stock closed the day at Rs.619.15, up by Rs.36.25 or 6.22%. The stock hit an intraday high of Rs.622 and low of Rs.586.10. The total traded quantity was 358927 shares compared to 2 week average of 249991.

Source : Equity Bulls

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