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    JSW Steel shares decline on steel output concerns

    Synopsis

    The company on Monday posted a 7 per cent fall in November 2019 crude steel output at 12.90 lakh tonne (LT).

    PTI

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    Shares of JSW Steel on Tuesday fell over one per cent after the company reported a 7 per cent fall in crude steel output for November 2019. On the BSE, the shares opened on a weak note and further fell to Rs 254.50, down 1.64 per cent from its previous closing.

    On the NSE, the stock fell 1.68 per cent to Rs 254.50.

    The company on Monday posted a 7 per cent fall in November 2019 crude steel output at 12.90 lakh tonne (LT).

    "The blast furnace, which was temporarily shut down in October, 2019 due to slowdown in auto demand, has recommenced operations in the last week of November, 2019," it said.

    JSW Steel Ltd is the flagship company of the diversified USD 14 billion JSW Group which has a leading presence in sectors such as steel, energy, infrastructure, cement, sports, among others.

    The shares of the company closed 2.96 per cent lower at Rs 251.10 on BSE.
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