"We have placed an order already and if this trend continues, we will have to keep importing," said Seshagiri Rao, joint managing director of India's third-largest steelmaker.
JSW Steel Ltd will import 500,000 tonnes of iron ore by end-June or July, a top official told Reuters on Wednesday, it's biggest monthly shipment as international ore prices fall and domestic supply remains suppressed.
Also Read: Court order to hit half of Odisha's iron ore production
"We have placed an order already and if this trend continues, we will have to keep importing," said Seshagiri Rao, joint managing director of India's third-largest steelmaker.
India's biggest iron ore producer NMDC Ltd has raised ore prices by up to 9 percent in June, two officials told Reuters, the first increase in five months as supply has been cut by a temporary ban on some mines in Odisha state.
JSW Steel stock price
On June 03, 2014, JSW Steel closed at Rs 1276.45, up Rs 48.90, or 3.98 percent. The 52-week high of the share was Rs 1295.00 and the 52-week low was Rs 451.50.
The company's trailing 12-month (TTM) EPS was at Rs 55.21 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 23.12. The latest book value of the company is Rs 866.72 per share. At current value, the price-to-book value of the company is 1.47.
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