JSW Steel rose 2.19% to Rs 968 at 11:10 IST on BSE after the company reported 10% increase in crude steel production on pro forma basis to 9.63 lakh tonnes in February 2014 over February 2013.
The company made the announcement during trading hours today, 19 March 2014.
Meanwhile, the BSE Sensex was up 50.55 points, or 0.23%, to 21,883.16.
On BSE, so far 49,000 shares were traded in the counter, compared with an average volume of 91,820 shares in the past one quarter.
The stock hit a high of Rs 971.10 and a low of Rs 943 so far during the day. The stock hit a 52-week high of Rs 1,046.75 on 7 January 2014. The stock hit a 52-week low of Rs 451.50 on 19 August 2013.
The stock had outperformed the market over the past one month till 18 March 2014, rising 8.67% compared with the Sensex's 5.81% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.22% as against Sensex's 4.66% rise.
The large-cap company has an equity capital of Rs 241.72 crore. Face value per share is Rs 10.
JSW Steel reported 12% increase in production of flat rolled products to 7.99 lakh tonnes in February 2014 over February 2013.
The company reported 16% rise in production of long rolled products to 1.53 lakh tonnes in February 2014 over February 2013.
The figures for the corresponding period in the previous year are on a pro forma basis after giving effect to the scheme of amalgamation and arrangement.
On a consolidated basis, JSW Steel reported a net profit of Rs 466.49 crore in Q3 December 2013 as against net loss of Rs 73.70 crore in Q3 December 2012. Total income rose 53.29% to Rs 13637.21 crore in Q3 December 2013 over Q3 December 2012.
There was a foreign exchange (forex) loss of Rs 268.45 crore in Q3 December 2012 while the forex loss was nil in Q3 December 2013.
JSW Steel, belonging to the JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, pon facilities, aluminum, cement and information technology.
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