JSW Steel flares up on strong steel production

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LYONDELLBASELL UNDER CHAPTER 11 BANKRUPTCY PROTECTION SINCE JAN-2009
LYONDELLBASELL IS ONE OF THE WORLD'S LARGEST PETROCHEMICALS COMPANY
RIL MAKES NON-BINDING CASH OFFER TO BUY CONTROL IN LYONDELLBASELL
OFFER APART FROM EQUITY FINANCING PROPOSED BY RIL FOR LYONDELLBASELL
OFFER UPON EMERGENCE OF LB FROM CHAPTER-11
OFFER SUBJECT TO DUE DILIGENCE & SUFFICIENT CREDITOR SUPPORT
LYONDELLBASELL: RIL OFFER POTENTIAL ALTERNATIVE TO REORGANIZATION PLAN
LYONDELLBASELL: TO TRY TO MAXIMIZE VALUE FOR ALL CREDITORS
LYONDELLBASELL PRIVATELY OWNED BY PROCHEMIE GMBH
RIL: NO ASSURANCE THAT OPPORTUNITIES WILL RESULT IN A TRANSACTION
RIL: REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH IN CORE BIZ
SUBMITTED TO LYONDELLBASELL NON BIDDING OFFER TO ACQUIRE FOR CASH
CASH OFFER FOR A CONTROLLING STAKE UPON EMERGENCE FROM CHAPTER 11
OFFER PURSUANT TO ITS PLAN OF REORGANISATION
OFFER IS PRELIMINARY AND SUBJECT TO CUSTOMARY CONDITIONS
RIL REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH
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DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q3
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NASDAQ DOWN 0.5%, S&P 500 INDEX LOWER BY 0.3% AT CLOSE ON FRIDAY

Updated: 04/11/2009 | 12:00 AM IST

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Capital Market

Wednesday, November 04, 2009 (New Delhi)

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The announcement was made during trading hours today, 4 November 2009.

Meanwhile, the BSE Sensex was up 317.36 points, or 2.06%, to 15722.30.

On BSE, 3.06 lakh shares were traded in the counter as against an average daily volume of 5.11 lakh shares in the past one quarter.

The stock hit a high of Rs 720 and a low of Rs 652 so far during the day. The stock had hit a 52-week high of Rs 935 on 21 October 2009 and a 52-week low of Rs 161.15 on 9 March 2009.

The stock had underperformed the market over the past one month till 3 November 2009, falling 20.12% as compared to the Sensex 10.09% fall. It underperformed the market in past one quarter, falling 8.66% as against 3.26% decline in the Sensex.

The large-cap steel maker has an equity capital of Rs 187.05 crore. Face value per share is Rs 10.

The current price of Rs 691 discounts the company's Q2 September 2009 annualised EPS of Rs 96.56, by a PE multiple of 7.15.

Production of flat products, used in automobiles, rose 19% to 296,000 tonnes, while long products, used in construction and railway lines, rose 145% to 75,000 tonnes in October 2009 over October 2008.

JSW Steel's net profit rose 42.2% to Rs 451.54 crore on 6.7% rise in net sales to Rs 4553.88 crore in Q2 September 2009 over Q2 September 2008.

JSW Steel is part of the O P Jindal Group with interests in mining, carbon steel, power and oxygen.

Promoters have pledged 3.49 crore shares representing 18.66% of the equity capital of the company. Total promoters shareholding in the company is 45.01% (as on June 2009).

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