Surge in steel production strengthens JSW Steel

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 05/11/2009 | 12:00 AM IST

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Capital Market

Thursday, November 05, 2009 (New Delhi)

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The announcement was made during trading hours on Wednesday, 4 November 2009, when the stock ended up 5.94% to Rs 721.05 on the BSE.

Meanwhile, the BSE Sensex was down 50.96 points, or 0.32%, to 15795.56.

On BSE, 4.74 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 760 and a low of Rs 715.25 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 4 November 2009, falling 15.37% as compared to the Sensex 7.13% fall. It underperformed the market in past one quarter, falling 1.03% as against 0.51% rise 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 751.70 discounts the company's Q2 September 2009 annualised EPS of Rs 96.56, by a PE multiple of 7.78.

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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