Shares of JSW Steel rallied as a lot as 13.62 per cent to hit contemporary 52-week excessive of Rs 638.90 after crude metal manufacturing rose 6 per cent to 4.19 million tonnes in quarter ended March 2020. Its manufacturing of rolled merchandise: flat superior 4 per cent to 2.99 million tonnes and manufacturing rolled merchandise: lengthy rose 11 per cent to 1.05 million tonnes.
“The company’s average capacity utilisation improved from 91 per cent of 3Q’21 to 93 per cent for 4Q FY’21. However, the capacity utilisation during the month of March 2021 was 96 per cent,” JSW Steel mentioned in a press launch.
The manufacturing of flat rolled merchandise moved up 4 per cent to 2.99 million tonnes in This autumn FY21 from 2.87 million tonnes in This autumn FY20.
On the opposite hand, manufacturing of lengthy rolled merchandise jumped 11 per cent to 1.05 million tonnes from 0.95 million tonnes in the identical interval final yr.
“Even though the average capacity utilisation improved from 66 per cent in Q1 2020-21 to 93 per cent in Q4 2020-21, the crude steel production for FY 2020-21 was lower by 6 per cent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21,” JSW Steel added.
