JSW Steel joins Rs 1.5-trillion m-cap club, zooms 57% in a month

By SI Reporter5 days ago

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JSW Steel has joined the elite club of companies with Rs 1.5-trillion market capitalization (market-cap) on the BSE, after its share price rallied 14 per cent to hit an all-time high of Rs 638.90 in intra-day trade on Thursday.

With the market-cap of Rs 1.54 trillion at 2 pm, JSW Steel stood at 24th position in overall market-cap ranking, the BSE data shows. Today, JSW Steel surpassed Bajaj Finserv, Sun Pharmaceutical Industries and HDFC Life Insurance Company in market-cap ranking during intra-day trade.

In the past one month, JSW Steel outperformed the market by surging 57 per cent as compared to 0.81 per cent decline in the S&P BSE Sensex. The company today informed the stock exchanges that it achieved crude steel production of 4.19 million tons in January-March quarter of the financial year 2020-21 (4QFY21), registering a growth of 2 per cent sequentially and 6 per cent on year on year (YoY). The company’s average capacity utilisation improved from 91 per cent of Q3FY21 to 93 per cent for Q4FY21.

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