Ind-Ra upgrades long term issuer rating of JSW Steel Ltd

India Ratings and Research (Ind-Ra) has upgraded Long Term Issuer Rating to "IND AA" from "IND AA-". Outlook remains Stable.

The upgrade reflects Ind-Ra's view of a higher-than-expected improvement in JSWL's credit profile in FY19, due to strong realisations and profitability. The agency expects the domestic demand-supply equation to remain favourable in FY20, supporting steady capacity utilisation with robust realisation and per tonne EBITDA.

Shares of JSW STEEL LTD. was last trading in BSE at Rs.292.1 as compared to the previous close of Rs. 292.15. The total number of shares traded during the day was 382583 in over 2672 trades.

The stock hit an intraday high of Rs. 298 and intraday low of 290. The net turnover during the day was Rs. 112322486.

Source : Equity Bulls

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