JSW Steel rises 3%

JSW Steel, today morning, announced its production details for May. The crude steel production was up 10% (YoY) at 13.67 lakh tonnes. Flat rolled products production rose 10% while that of Long rolled was up 55%.

The capacity utilization remained at 91% as the Liquid Oxygen supplies were over 30000 tonnes for medical purposes in May’21 from the Steel Complexes of the company across India, v/s over 20000 tonnes in April’21.

This news buoyed the stock price, which opened in the green at Rs.699 and went on to hit an intraday high at Rs.718.85, going up 3%. The stock had hit a new high at Rs.775 on 10th May’21.