JSW Steel rose 0.38% to Rs 535.75 at 14:31 IST on BSE after the company reported consolidated net loss of Rs 381.82 crore in Q1 June 2013, as against net profit of Rs 49.65 crore in Q1 June 2012.
The Q1 result was announced during trading hours today, 31 July 2013.
Meanwhile, the BSE Sensex was up 18.62 points or 0.1% at 19,366.96.
On BSE, 2.20 lakh shares were traded in the counter as against average daily volume of 1.70 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 1.88% at the day's high of Rs 543.70 so far during the day. The stock lost as much as 3.45% at the day's low of Rs 515.20 so far during the day, which is also its 52-week low for the counter. The stock had hit a 52-week high of Rs 893.75 on 29 January 2013.
The stock had underperformed the market over the past one month till 30 July 2013, sliding 18.83% compared with the Sensex's 0.24% fall. The scrip had also underperformed the market in past one quarter, falling 24.03% as against Sensex's 0.8% slide.
The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Rs 10.
JSW Steel's consolidated total income rose 3.5% to Rs 10289.80 crore in Q1 June 2013 over Q1 June 2012.
On 3 May 2013, the Bombay High Court sanctioned a Composite Scheme of Amalgamation and Arrangement amongst JSW Steel, JSW ISPAT Steel, JSW Building Systems, JSW Steel Coated Products and their respective shareholders and creditors with effect from 1 July 2012, being the appointed date. Accordingly, effect of the scheme is considered in the result of the current quarters. Consequent to the merger the results for Q1 June 2013 are not fully comparable with previous periods, JSW Steel said.
JSW Steel is engaged in manufacture of flat and long products viz. H R Coils, C R Coils, Galvanised/Galvalume products, Colour Coated Products, auto grade / white goods grade CRCA Steel, Bars and Rods. JSW Steel is one of the largest galvanizing and colour coating production capacity in the country and is the largest exporter of galvanized products with presence in over 100 countries across five continents.
Powered by Capital Market - Live News
