Jindal Steel soars 8% on healthy monthly sales, surges 58% in one month

The company recorded the highest ever standalone steel sales of 640,000 tonnes in May 2020, up 28% year-on-year (YoY), with the revival of domestic demand.

Shares of Jindal Steel & Power moved higher by 8 per cent to Rs 138 on the BSE on Thursday in an otherwise subdued market after the company said it has recorded the highest ever standalone steel sales of 640,000 tonnes in May 2020, with the revival of domestic demand. The steel sales posted a remarkable growth of 28 per cent during the month as compared to 500,000 tonnes in the corresponding month of the previous year.

JSPL has recorded consolidated steel sales of 7.97 million tonnes which is a growth of 26 per cent as compared to a sales