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JSW Steel Plunges 4%; BSE METAL Index Down 4.2%
Fri, 19 Jul 15:25

JSW Steel Plunges 4%; BSE METAL Index Down 4.2%Image source: Kameleon007 /www.istockphoto.com

JSW Steel share price has plunged 4% and is presently trading at Rs 888.5.

Meanwhile, the BSE METAL index is at 31,488.3 (down 4.2%).

Among the top losers in the BSE METAL index today are NMDC (down 5.5%) and Tata Steel (down 5.2%).

Over the last one year, JSW Steel has moved up from Rs 797.3 to Rs 888.5, registering a gain of Rs 91.2 (up 11.4%).

On the other hand, the BSE METAL index has moved up from 21,445.2 to 31,488.3, registering a gain of 46.8% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 111.8%), NMDC (up 101.4%) and Hindustan Zinc (up 97.6%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,523.3 (down 1.0%).

The top losers among the BSE Sensex today are Tata Steel (down 5.2%) and NTPC (down 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,526.6 (down 1.1%). Tata Steel and BPCL are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,523.3, registering a gain of 13,933.3 points (up 20.9%).

JSW Steel Financial Update...

JSW Steel net profit fell 62.1% YoY to Rs 14,200 million for the quarter ended March 2024, compared to a profit of Rs 37,490 million a year ago. Net sales declined 1.5% to Rs 462,690 million during the period as against Rs 469,620 million in January-March 2023.

For the year ended March 2024, JSW Steel reported 116.8% increase in net profit to Rs 89,730 million compared to net profit of Rs 41,390 million during FY23. Revenue of the company grew 5.5% to Rs 1,750,060 million during FY24.

The current Price to earnings ratio of JSW Steel, based on rolling 12 month earnings, stands at 23.8.

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