Q3FY19 results reaction: JSW Steel down; Vodafone Idea up - Highlight Investment Research

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Thursday 7 February 2019

Q3FY19 results reaction: JSW Steel down; Vodafone Idea up

Shares of JSW Steel were trading 2% down on Thursday, while those of Vodafone Idea spurted 5% post their respective earnings for the third quarter of FY19.

JSW Steel Ltd missed estimates for Q3FY19 on the revenue and earnings fronts due to lower sales volumes. Revenue grew by 13.8% yoy to Rs20,318cr (expectation Rs21,268cr). EBITDA stood at Rs4,501cr, up 16.9% yoy against estimates of Rs4,438cr.

JSW Steel Ltd’s share price is currently at Rs274, down by Rs5.3 or 1.9%, from its previous closing of Rs279.30 on the BSE.

The scrip opened at Rs279.30 and has touched a high and low of Rs281.10 and Rs272.50, respectively. So far, 23,40,610 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs67,512.97cr.








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