Trending stocks: JSW Steel shares rise over 6%

NEW DELHI: Shares of JSW Steel traded 6.28 per cent up in Tuesday's trade at 12:01PM (IST). Around 631,806 shares changed hands on the counter.

The scrip opened at Rs 167.1 and touched an intraday high and low of Rs 178.2 and Rs 167.1, respectively, in the session so far. The stock of JSW Steel Ltd. quoted a 52-week high of Rs 297.3 and a 52-week low of Rs 132.5.

Total market cap of the JSW Steel Ltd. stood at Rs 42881.49 crore at the time of writing this report.

The company has ramped up capacity utilisation to 85% in May after restarting operations about a month ago, underscoring the importance of government orders in helping India Inc get back to business.

Key Financials
The company reported consolidated net sales of Rs 17556.0 crore for the quarter ended 31-Mar-2020, down 0.62 per cent from previous quarter's Rs 17666.0 crore and down 19.6 per cent from the year-ago quarter's Rs 21837.0 crore.

The net profit for latest quarter stood at Rs 231.0 crore, down 84.83 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, DIIs held 2.07 per cent stake in the firm, while foreign institutional investors held 17.13 per cent and the promoters 41.14 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 10.64 and a price-to-book ratio of 1.24. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

JSW Steel Ltd. belongs to the Steel - Integrated industry.