 "JSPL shares climb over 4% after company reports highest-ever quarterly domestic production of crude steel in Q3")
New Delhi: Shares of Jindal Steel and Power Ltd (JSPL) on Thursday rose by over 4 percent after the company reported its highest ever quarterly domestic production of crude steel and related products in the quarter ended 31 December 2019.
.@JSPLCorporate expects Q4 operational numbers to be better than Q3. Co sees debt coming down to Rs 34,000 cr by FY20-end & Rs 27,000 cr by FY21 pic.twitter.com/1PsgjOem1A
— CNBC-TV18 (@CNBCTV18Live) January 2, 2020
The scrip rallied 4.17 percent to Rs 173.25 on the BSE. At the NSE, it climbed 4.11 percent to Rs 173.25. JSPL on Thursday said its domestic production of crude steel and related products for the quarter ended 31 December 2019 stood at 1.61 million tonnes (MT), up 22 percent from the year ago period. The company’s crude steel output had stood at 1.32 million tonnes in the corresponding period last year, JSPL said in a statement. According to JSPL, this is the “highest ever quarterly domestic production of crude steel and related products… as a result of strong and consistence performance across all locations, especially in Angul operations,”.
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