JSPL’s making all the right moves, but that’s hardly helping its stock
Investors of Jindal Steel and Power Ltd (JSPL) don’t appear cheerful despite the fact that the firm will be ramping up production this year.
The company has clocked a sales volume increase of 1.51 million tonnes (mt) in the June quarter. This amounts to 16% year-on-year growth.
Indeed, the management spoke of about 6.5mt of sales in FY20, but analysts reckon that the figure could be beaten. “We expect JSPL to produce 6.8mt of crude steel, and sell 6.45mt in FY20,” said analysts at IDFC Securities Ltd in a recent report.
