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JSW Steel hits 52-week low on weak earnings

JSW Steel hits 52-week low on weak earnings
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First Published: Fri, Jan 28 2011. 10 23 AM IST
Updated: Fri, Jan 28 2011. 10 23 AM IST
Mumbai: Shares of JSW Steel fell more than 5% to a 52-week low as institutions were unwinding positions after the company reported weak financial results for the December quarter.
The stock slipped another 5% on Thursday soon after it announced a 32 percent drop in its net profit.
According to analysts, higher coking coal and iron ore costs continue to threaten profitability. At 10.41am, shares of the company were down 4.48% at Rs 922.30.
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First Published: Fri, Jan 28 2011. 10 23 AM IST
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