JSW Steel surges on partnering with BCG to meet decarbonization goals
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JSW Steel is currently trading at Rs. 585.95, up by 9.60 points or 1.67% from its previous closing of Rs. 576.35 on the BSE.
The scrip opened at Rs. 582.10 and has touched a high and low of Rs. 592.00 and Rs. 580.35 respectively. So far 1094535 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 789.95 on 19-Apr-2022 and a 52 week low of Rs. 520.10 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 594.00 and Rs. 561.20 respectively. The current market cap of the company is Rs. 140960.21 crore.
The promoters holding in the company stood at 45.02%, while Institutions and Non-Institutions held 20.19% and 34.79% respectively.
JSW Steel has partnered with US-based Boston Consulting Group (BCG) to meet its decarbonization goals. The company has an ambitious target of reducing its carbon emission by 42% by 2029-30 versus base year 2005. This collaboration is focused on applying digital and analytics to track, measure, simulate and enhance the company's environmental performance.
The iron and steel industry globally accounts for around 8% of total carbon dioxide (CO2) emissions on an annual basis, whereas in India, it contributes 12% to the total CO2 emissions. Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference.
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.
