The company made this announcement after market hours on Friday, 9 December 2011.
Meanwhile, the BSE Sensex was down 197.76 points, or 1.22% to 16,015.70.
On BSE, 1,023 shares were traded in the counter as against average volume of 20,410 shares in the past one quarter.
The stock hit a high of Rs 75.90 and a low of Rs 74.05 so far during the day. The stock had hit a 52-week low of Rs 68.55 on 25 November 2011. The stock had hit a 52-week high of Rs 113.05 on 4 January 2011.
The mid-cap stock had underperformed the market over the past one month till 9 December 2011, falling 16.76% compared with the Sensex's 6.62% fall. The scrip had also underperformed the market in past one quarter, falling 26.05% as against 3.87% decline in the Sensex.
JSL Stainless said that consequent to the allotment of equity shares upon conversion of foreign currency convertible bonds (FCCBs), the paid up equity share capital of the company has increased from Rs 37.60 crore to Rs. 37.68 crore, divided into 18.84 crore equity shares of Rs 2 each.
JSL Stainless reported a net loss of Rs 97.94 crore in Q2 September 2011, compared with net profit of Rs 64.66 crore in Q2 September 2010. Net sales rose 5.6% to Rs 1833.72 crore in Q2 September 2011 over Q2 September 2010.
JSL, earlier Jindal Stainless, is engaged in manufacturing stainless steel. The products include stainless steel hot rolled and cold rolled coils, plates and flats, slabs and blooms. These products are used in nuclear plants, thermal power plants, petrochemicals, pharmaceutical, process industry, dairy industry, breweries and many more areas like, railways and coinage.
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