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Indian-Commodity  :  Equity & Shares  :  JSW Steel moves up on the bourses

JSW Steel moves up on the bourses (19-May-2017)

 JSW Steel is currently trading at Rs. 191.60, up by 0.20 points or 0.10% from its previous closing of Rs. 191.40 on the BSE.

The scrip opened at Rs. 195.00 and has touched a high and low of Rs. 197.80 and Rs. 189.60 respectively. So far 875767 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 209.35 on 17-May-2017 and a 52 week low of Rs. 129.50 on 23-May-2016.

Last one week high and low of the scrip stood at Rs. 209.35 and Rs. 188.50 respectively. The current market cap of the company is Rs. 46289.77 crore.

The promoters holding in the company stood at 41.62%, while institutions and non-institutions held 36.85% and 21.52% respectively.

JSW Steel has drawn up Rs 26,800 crore capital expenditure programme over the next three years period to expand its capacity. The company will raise around Rs 15,000 crore through debt and the balance will be through cash accruals to fund the capex plan.

The company is looking at expansion of existing units, along with new greenfield steel projects at Odisha and Jharkhand, for which it has already started acquiring lands. It is augmenting crude steel capacity at Dolvi to 10 MT from the present 5 MT. The estimated project cost is Rs 15,000 crore and the project is expected to be completed by March 2020.

Besides, the company has taken up revamp and capacity upgradation of BF-3 at Vijayanagar works from 3.0 MT to 4.5 MT. The estimated project cost is Rs 1,000 crore and the project expected to be commissioned in a period of 20 months.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.


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