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13-Feb2019

JSW Steel surges on the bourses

JSW Steel is currently trading at Rs. 275.50, up by 3.70 points or 1.36% from its previous closing of Rs. 271.80 on the BSE.

The scrip opened at Rs. 274.70 and has touched a high and low of Rs. 276.30 and Rs. 269.10 respectively. So far 134694 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 427.30 on 21-Sep-2018 and a 52 week low of Rs. 256.80 on 11-Feb-2019.

Last one week high and low of the scrip stood at Rs. 282.60 and Rs. 256.80 respectively. The current market cap of the company is Rs. 65736.31 crore.

The promoters holding in the company stood at 42.55%, while Institutions and Non-Institutions held 22.73% and 34.72% respectively.

JSW Steel has received a Letter of Intent (LoI) from the Insolvency Resolution Professional (IRP) of Bhushan Power and Steel, declaring it the highest bidder for the stressed asset.

Once the company accepts the LoI, the IRP, in consultation with the Committee of Creditors (CoC), will place the resolution plan before the NCLT for final approval. The entire process is expected to be completed by the first week of April.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.


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