JSW Steel share price rebounds from intraday low after Q3FY25 update
- Stock Market today: JSW Steel share price rebounded from intraday low after Q3FY25 update. Production of the Consolidated entity rises 4% sequentially , 2% year on year
Stock Market today: JSW Steel share price rebounded from intraday low after company released Q3FY25 update. Production of the Consolidated entity increased 4% sequentially and was up 2% on the year on year basis
The JSW Steel share price opened at ₹890.80 on the BSE on Friday, almost flat compared to previous closing price of ₹890.70. The JSW Steel share price thereafter while dipped to intraday lows of ₹880.45 as the benchmark indices also saw selling pressure intensify. However business updates announced by the company meant that JSW steel share price bounced to ₹894.95 levels, marking gains of 1.6% from the intraday lows
Production Updates
JSW Steel on Friday reported its Highest ever quarterly Consolidated Crude Steel Production of 7.03 million Tonnes for Q3 FY25.
Indian operation of JSW Steel saw Crude Steel production at 6.82 million tonnes, which was higher by 3% sequentially as well as on year on year basis too. The Capacity utilisation at Indian Operations excluding trial run stood at 91% for Q3 FY25. Production and capacity utilisation for the quarter could have been more but were affected due to temporary maintenance activity at one of the Blast furnaces at Dolvi in the month of October, which resumed normal operations in the 1st week of November, said the company.
Updates on Capacity expansions
JSW Steel updates that the 5 MTPA (million tonne per annum) Integrated Steel Project at Vijayanagar, set up by wholly owned subsidiary of the Company, JSW Vijayanagar Metallics Ltd. is progressing well. Post commissioning of 4.5 MTPA Blast Furnace, Raw Material Handling System and Sinter Plant in Q2 FY25, JSW Vijayanagar Metallics commissioned one out of the two Convertors and Castors at the Steel Melt Shop during Q3 FY25.
The ramp up of production at the 5 MTPA JSW Vijayanagar Metallics integrated facility is expected in Q4 FY 25.
Once fully ramped up, the total crude steel capacity at Vijayanagar for JSW steel will increase to 17.5 MTPA, contributing to JSW Steel’s overall Indian operation’s crude steel capacity rising from 29.2 MTPA to 34.2 MTPA.
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