Shares of JSW Steel rose 13.62% to a new 52-week high of Rs 638.90 after crude steel production rose 6% to 4.19 million tonnes in the quarter ended in March 2020. Its production of rolled products: flat grew 4% to 2.99 million tonnes and production of rolled products: long increased 11 percent to 1.05 million tonnes.
“The company’s average capacity utilization fell from 91 percent in 3Q’21 to 93 percent in 4T FY’21. However, capacity utilization during the month of March 2021 was 96 percent. hundred, “JSW Steel said in a press release.
Production of flat-rolled products increased 4 percent to 2.99 million tonnes in Q4 FY21, from 2.87 million tonnes in Q4 FY20.
In contrast, production of long rolled products jumped 11 percent to 1.05 million tonnes, from 0.95 million tonnes in the same period last year.
“Even though the average capacity utilization fell from 66% in the first quarter of 2020-21 to 93% in the fourth quarter of 2020-21, crude steel production for the 2020-2021 fiscal year was 6% lower, mainly due to production disruptions caused by the COVID-19 outbreak in the first quarter of 2020-21, “JSW Steel added.