JSW Steel moves up on entering into joint venture agreement with JFE Steel Corporation
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JSW Steel is currently trading at Rs. 805.20, up by 1.25 points or 0.16% from its previous closing of Rs. 803.95 on the BSE.
The scrip opened at Rs. 799.10 and has touched a high and low of Rs. 805.50 and Rs. 794.25 respectively. So far 28127 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 824.70 on 01-Aug-2023 and a 52 week low of Rs. 614.05 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 824.70 and Rs. 786.05 respectively. The current market cap of the company is Rs. 192918.36 crore.
The promoters holding in the company stood at 45.40%, while Institutions and Non-Institutions held 36.10% and 18.50% respectively.
JSW Steel has entered into a joint venture agreement (JVA) with JFE Steel Corporation (JFE) on August 2, 2023 for the purposes of establishing a joint venture company in India (JVC) for the manufacture and sale of CRGO using industry leading machinery, technical know-how and JFE Steel’s energy efficient production technology developed through extensive R&D. The entire project cost is expected to be around Rs 5,500 crore. This is expected to be financed by a mix of equity and debt.
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.
