Steelmaker Jindal Steel and Power Limited (JSPL) said its steel production increased 6 per cent year-on-year to 6.6 lakh tonne in August.
Sales volume also increased 4 per cent y-o-y to 7.1 lakh tonne during the month, JSPL said in a statement.
“Notwithstanding subdued construction activities due to the ongoing monsoons in August, the company has maintained strong momentum in sales and production,” it said.
JSPL was trading at Rs 393.35 on the BSE, up nearly 1 per cent on Tuesday.
“JSPL is committed to achieving its yearly sales and production targets; we hope the domestic demand will rebound sharply once the monsoon season is over. The government of India is pushing its infrastructure projects, which will help steel players to ride the growth momentum”, said VR Sharma, managing director, JSPL.
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The company has investments worth Rs 90,000 crore across the globe.
JSPL expects to pare debt and meet its carbon emission goals with the divestment of its entire stake in its thermal power unit to Worldone Pvt. Ltd, a promoter group company.
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