Friday, 28 Jan 2011
Shares of JSW Steel fell more than 5 percent to a 52-week low as institutions were unwinding positions after the company reported weak Q3 financial results for the December quarter.
JSW Steel stock slipped another 5 percent on Thursday soon after it announced a 32 percent drop in its net profit.
According to analysts, higher coking coal and iron ore costs continue to threaten profitability. At 10.41 a.m., shares of the company were down 4.48 percent at 922.30 rupees.
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