JSW Steel surges as Moody’s assigns Ba1 rating with stable outlook

JSW Steel is currently trading at Rs. 1260.70, up by 13.00 points or 1.04% from its previous closing of Rs. 1247.70 on the BSE. The scrip opened at Rs. 1250.00 and has touched a high and low of Rs. 1269.95 and Rs. 1245.00 respectively. So far 30973 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1365.35 on 02-Sep-2014 and a 52 week low of Rs. 805.00 on 14-Feb-2014. Last one week high and low of the scrip stood at Rs. 1269.95 and Rs. 1180.00 respectively. The current market cap of the company is Rs. 30553.67 crore. The promoters holding in the company stood at 39.31% while Institutions and Non-Institutions held 24.14% and 36.55% respectively. JSW Steel has been assigned Ba1 rating with stable outlook by Moody’s and BB+ rating with stable outlook by Fitch. JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.