JSW Steel is trading higher by nearly 4% at Rs 657 after the company said crude steel production in August increased by 29% year on year at 985,000 tonne over the previous year.
The company has shut down one of its corex furnaces at its Vijayanagar plant in Karnataka, for relining and capacity enhancement and is expected to recommence production this month.
The company said capacity utilization at Vijayanagar plant remains at around 80% due to iron ore shortage caused by inordinate delays in opening category A and B mines even after Supreme Court’s order to resume mining operations.
The stock opened at Rs 642 and hit a high of Rs 659 on BSE. A combined 296,000 shares change hands on the counter till 0956 hours on BSE and NSE.
The company has shut down one of its corex furnaces at its Vijayanagar plant in Karnataka, for relining and capacity enhancement and is expected to recommence production this month.
The company said capacity utilization at Vijayanagar plant remains at around 80% due to iron ore shortage caused by inordinate delays in opening category A and B mines even after Supreme Court’s order to resume mining operations.
The stock opened at Rs 642 and hit a high of Rs 659 on BSE. A combined 296,000 shares change hands on the counter till 0956 hours on BSE and NSE.
