Wednesday, 2 August 2017

JSW Steel Declined Over 2 Percent Intraday On Wednesday

JSW Steel declined over 2 percent intraday on Wednesday as investors turned cautious of the stock post the company’s Q1 performance.

The company’s profit in the first quarter fell by 43 percent to Rs 624 crore compared with Rs 1,096 crore in same quarter last year.

However, revenue during the quarter increased sharply by 24 percent to Rs 15,977 crore, with crude steel production up 1 percent at 3.91 million tonnes and saleable steel up 5 percent at 3.51 million tonnes.

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