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JSW Steel gains on reporting 22% rise in Q2 consolidated net profit

JSW Steel is currently trading at Rs. 223.60, up by 0.95 points or 0.43% from its previous closing of Rs. 222.65 on the BSE.

The scrip opened at Rs. 214.70 and has touched a high and low of Rs. 223.95 and Rs. 214.70 respectively. So far 146567 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 359.70 on 05-Nov-2018 and a 52 week low of Rs. 201.90 on 29-Aug-2019.

Last one week high and low of the scrip stood at Rs. 225.85 and Rs. 214.50 respectively. The current market cap of the company is Rs. 53819.41 crore.

The promoters holding in the company stood at 42.40%, while Institutions and Non-Institutions held 22.18% and 35.42% respectively.

JSW Steel has reported a rise of 29.59% in its net profit at Rs 2,917 crore for the quarter ended September 30, 2019 as compared to Rs 2,251 crore for the same quarter in the previous year. However, total income of the company decreased by 21.09% at Rs 15,708 crore for Q2FY20 as compared Rs 19,905 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 21.51% in its net profit at Rs 2,536 crore for the quarter ended September 30, 2019 as compared to Rs 2,087 crore for the same quarter in the previous year. However, total income of the company decreased by 17.96% at Rs 17,728 crore for Q2FY20 as compared Rs 21,608 crore for the corresponding quarter previous year.

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