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30-Jan2017

JSPL gains on securing long term coal linkage of 0.5 MTPA for 5 years

Jindal Steel & Power (JSPL) is currently trading at Rs. 80.10, up by 0.70 points or 0.88% from its previous closing of Rs. 79.40 on the BSE.

The scrip opened at Rs. 79.35 and has touched a high and low of Rs. 80.30 and Rs. 79.35 respectively. So far 23,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 91.40 on 01-Aug-2016 and a 52 week low of Rs. 48.20 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 83.85 and Rs. 75.60 respectively. The current market cap of the company is Rs. 7,328.00 crore.

The promoters holding in the company stood at 61.89%, while Institutions and Non-Institutions held 19.39% and 18.72% respectively.

JSPL has secured long term coal linkage of a total quantity of 0.5 million tonnes per annum (MTPA) for the next 5 years in the recently concluded coal linkage auction under Sponge Iron sub-sector, conducted by Coal India. This sourcing of coal will help the company to secure fuel requirements and smooth operations of its sponge iron units.

The company had earlier secured 1.18 million tonnes of linkage capacity in Captive Power Plant (CPP) sub-sector and with this linkage in Sponge Iron sub-sector, the total coal linkage capacity of the company will be 1.68 MTPA.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.



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