JSW Steel’s stock saw a 0.85% increase in early trading today, reaching ₹935.60 on the National Stock Exchange (NSE) at 9:33 AM, following the company’s announcement of a 1% year-on-year (YoY) growth in consolidated crude steel production for August 2024. The stock opened at ₹935.80, with highs of ₹943.85 and lows of ₹933.20 during early trading. The previous close was ₹927.75.
The company reported that its crude steel production totaled 23.16 lakh tonnes for August, marking a 2% YoY increase in Indian operations. This growth, coupled with the ramp-up of operations at its Bhushan Power & Steel Limited (BPSL) facility, has contributed to the positive market sentiment.
JSW Steel’s domestic capacity utilization was at 91%, while its US operations remained flat. Investors appear optimistic about the company’s ongoing production capacity expansion and plans to further ramp up by Q3 FY25.
The stock’s performance aligns with the company’s growth in production and capacity, and traders will be watching closely for further developments.
