LIVE MARKET TRACKER :   BSE SENSEX   32658.09      |    NSE NIFTY 10245.40    
GLOBAL MARKETS :  NASDAQ 6624.0044   +0.2756%    |    FSI London 7526.97   -0.11%    |    NIKKEI Japan 21329.72   +0.35%
  USD GBP EUR CAD AUD INR
USD - 0.7545 0.8497 1.2534 1.2747 64.9300
GBP 1.3252 - 1.1260 1.6610 1.6888 86.0446
EUR 1.1771 0.8883 - 1.4754 1.5001 76.4265
CAD 0.7980 0.6026 0.6781 - 1.0170 51.8240
AUD 0.7847 0.5922 0.6668 0.9836 - 50.9440
INR 0.0154 0.0116 0.0131 0.0194 0.0197 -
Indian-Commodity  :  Equity & Shares  :  JSW Steel strengthens on executing a share purchase agreement with Praxair India

JSW Steel strengthens on executing a share purchase agreement with Praxair India (16-Aug-2016)

JSW Steel is currently trading at Rs 1748.45, up by 23.70 points or 1.37% from its previous closing of Rs 1724.75 on the BSE.

The scrip opened at Rs. 1724.00 and has touched a high and low of Rs. 1753.00 and Rs. 1716.95 respectively. So far 39129 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1762.00 on 27-Jul-2016 and a 52 week low of Rs. 829.35 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 1756.75 and Rs. 1685.00 respectively. The current market cap of the company is Rs. 42059.64 crore.

The promoters holding in the company stood at 41.48%, while Institutions and Non-Institutions held 37.61% and 20.91% respectively.

JSW Steel has executed a Share Purchase Agreement with Praxair India to acquire their entire shareholding of 74% in JSW Praxair Oxygen (JPOPL) for a cash consideration of Rs 240 crore. The company currently holds 26 percent of the equity shares of JPOPL and post the aforesaid acquisition, JPOPL would become a wholly owned subsidiary of JSW Steel.

JPOPL is engaged in the business of production and sale of industrial gases such as oxygen, nitrogen and argon and has set up two air separation plants, each with a capacity of 2500 tonnes per day, at Toranagallu, Bellary District in Karnataka JSW Steel currently sources industrial gases from JPOPL amongst others at prices based on long term contracts.

The said acquisition is strategic in nature as it will provide the Company the benefit of backward integration of this critical input. Deloitte Touche Tohmatsu India LLP and Bharucha & Partners, Advocates and Solicitors carried out financial and legal due diligence respectively for the Company.


Top News Today
Jain Irrigation Systems redeems FCCB's worth $40 million
(17-Oct-2017)

Jain Irrigation Systems redeems FCCBJain Irrigation Systems has redeemed the 4,000 FCCB's of $10,000 each aggregating to $40 million (equivalent Rs 263.50 crore) as per the terms of the Agreement dated September 5, 2012 entered into by the......click on news to read complete article.

Karur Vysya Bank opens one new branch at Andhra Pradesh
(17-Oct-2017)

Karur Vysya Bank opens one new branch at Andhra PradeshKarur Vysya Bank (KVB) has opened one new branch at No 492/4, Vullapalli Road, East Godavari District in state of Andhra Pradesh on October 17, 2017.Karur Vysya Bank is among six old generation private......click on news to read complete article.

Moody's affirms rating on SBI's foreign currency deposits
(17-Oct-2017)

MoodyGlobal rating agency -- Moody's Investors Service -- has affirmed the ratings on State Bank of India's (SBI) local and foreign currency deposits of 'Baa3/P-3' apart from affirming the 'Baa3' rating on......click on news to read complete article.

International Stock News
US markets closed higher with investors' looking ahead to major earnings
(17-Oct-2017)

US markets closed higher with investorsThe US markets closed higher on Monday, with all three major indexes logging another round of records, as investors looked ahead to key corporate earnings reports that could set the tone for trading and......click on news to read complete article.

Asian markets trade mostly in green
(16-Oct-2017)

Asian markets trade mostly in greenAsian markets have made a positive start on Monday, extending their last week gains, following the positive lead from Wall Street on Friday and higher commodity prices on the back of strong Chinese import......click on news to read complete article.

US markets closed higher; Nasdaq records all-time high
(14-Oct-2017)

US markets closed higher; Nasdaq records all-time highThe US markets closed higher on Friday, with Nasdaq recording an all-time high, as President Donald Trump delivered a speech decertifying a nuclear agreement with Iran. Upbeat earnings reports from banks......click on news to read complete article.

 

     
  
Recent Equity & Shares News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.