LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
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
DB Realty's JV inks term sheet for development of 'DB Skypark'
(16-Jan-2018)

DB RealtyDB Realty's joint venture (JV) - ECC DB JV, in which company holds 74% stake has signed a Term Sheet on January 15, 2018 with Xanadu Development (Development Manager) for the purpose of development management......click on news to read complete article.

Ramco wins trust of Global Fortune Top 5 organization
(16-Jan-2018)

Ramco wins trust of Global Fortune Top 5 organizationAfter making its entry into Gartner Magic Quadrant and Forrester Wave for SaaS HCM Suites, Ramco Systems, cloud enterprise software major has witnessed increased traction from Multinationals and Fortune......click on news to read complete article.

Mohota Industries inks JV pact for development of affordable housing project
(16-Jan-2018)

Mohota Industries inks JV pact for development of affordable housing projectMohota Industries, through its Special Purpose Vehicle (SPV), entered into its third joint venture (JV) agreement with a renowned developer for the multi-use development project with an estimated value......click on news to read complete article.

International Stock News
Asian markets trade mostly higher in early deals on Tuesday
(16-Jan-2018)

Asian markets trade mostly higher in early deals on TuesdayMost of the Asian equity benchmarks are trading up in the early deals on Tuesday following a holiday for US markets as investors looked ahead to American corporate earnings. The Japanese market is rising......click on news to read complete article.

US markets end near record closing high levels
(13-Jan-2018)

US markets end near record closing high levelsFriday turned out to be a fabulous day of trade for the US equity markets, with Wall Street ending the session near record closing levels, as traders remained optimistic about the earnings season after......click on news to read complete article.

Asian markets trade mostly higher in early deals on Friday
(12-Jan-2018)

Asian markets trade mostly higher in early deals on FridayMost of the Asian equity benchmarks are trading up in the early deals on Friday following the record closing highs overnight on Wall Street amid easing worries about US Treasuries and a rise in crude oil......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.