Mumbai | Aug 24, 2015: Jindal Steel & Power (JSPL) is currently trading at Rs. 70.95, up by 0.25 points or 0.35% from its previous closing of Rs. 70.70 on the BSE.
The scrip opened at Rs. 68.00 and has touched a high and low of Rs. 71.60 and Rs. 66.60 respectively. So far 812608 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.25 on 25-Aug-2014 and a 52 week low of Rs. 62.40 on 14-Aug-2015.
Last one week high and low of the scrip stood at Rs. 76.30 and Rs. 65.10 respectively. The current market cap of the company is Rs. 6294.54 crore.
The promoters holding in the company stood at 61.34% while Institutions and Non-Institutions held 21.91% and 16.75% respectively.
JSPL is planning to bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November to ensure raw material supply to its plants. The Naveen-Jindal led firm is planning to expand the production capacity of its plant in Odisha to 6 million tonnes per annum (mtpa) from 2 mtpa by the end of next year.
The 12 mineral-producing states, including Odisha, will auction 82 mining blocks that contain minerals such as iron ore, bauxite, limestone by October-November. The government passed a new law (MMDR Amendment Act, 2015) in March this year to pave way for auction of iron ore and non-coal mineral mines in States.
Jindal Steel & Power is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
(Source: http://money.livemint.com/)