JSW Steel Ltd has posted a growth of 33 per cent in its crude steel output in May 2009.

The company’s production during the month stood at 4.59 lakh tonnes as against 3.46 lakh tonnes in the same period of the previous year.

The country’s second largest steel manufacturer said that it recorded the growth on the back of production from its new project at Vijayanagar, Karnataka.

The company saw growth of 20 per cent in its total production at 3.07 lakh tonnes from Rs 2.55 lakh tonnes.

Flat products surged by a fifth to 0.3 million tonnes, whereas production of long steel doubled to 0.065 million tonnes, the company said.

Moreover, JSW has shown an all-around growth in all product segments, and also recorded highest monthly production of crude steel, HR plates and colour coated products.

Due to the current economic situation, JSW Steel, on June 02, postponed the commencement of construction work at the site of 10-MTPA West Bengal project.

The company’s directors, at its meeting held on May 28, 2009, announced that JSW will lift $1 billion via qualified institutional placement (QIP) and issue of securities in the international markets for part-financing its capital expenditures and for meeting general corporate purposes.

At 12:32 p.m., the shares of the company gained 5.6% at Rs 860 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 32.71 & 26.30 respectively. The share price has seen a 52-week high of Rs 975 and a low of Rs 192.75 on BSE.