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JSW Steel share rises 3% after firm clocks higher output in May

JSW Steel share touched an intraday high of Rs 718.85 rising 2.99% against previous close of Rs 697.95 on BSE

twitter-logoBusinessToday.In | June 10, 2021 | Updated 12:48 IST
JSW Steel share rises 3% after firm clocks higher output in May
JSW Steel share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

JSW Steel share rose 3 percent in early trade after the firm posted higher crude steel production in May 2021. Crude steel output in May rose to 13.67 lakh tonnes against 12.48 lakh tonnes in May 2020, up 10 percent.

The stock touched an intraday high of Rs 718.85 rising 2.99% against previous close of Rs 697.95 on BSE.  The stock hit 52-week high of Rs 773 on May 10,2021 and 52-week low of Rs 175.95 on June 12, 2020.

Total 3.27 lakh shares changed hands amounting to turnover of Rs 23.30 crore on BSE. The stock has gained after 3 days of consecutive fall.

JSW Steel share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The share has gained 272% in one year and risen 83.88% since the beginning of this year.

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The average capacity utilisation remained at 91 percent in May as liquid oxygen supplies were over 30,000 tonne for medical purposes as against over 20,000 tonne in April 2021.

The production of flat rolled products stood at 9.99 lakh tonnes, reporting a growth of 10% over May 2020. The production of long rolled products rose 55% to 3.09 lakh tonnes compared to May 2020.

The share hit a 52-week high of Rs 773 on May 10, 2021 and a 52-week low of Rs 175.95 on June 12, 2020.

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