Jindal Stainless rises on acquiring 100% stake in Evergreat International Investment
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Jindal Stainless is currently trading at Rs. 769.15, up by 8.25 points or 1.08% from its previous closing of Rs. 760.90 on the BSE.
The scrip opened at Rs. 776.05 and has touched a high and low of Rs. 785.00 and Rs. 730.25 respectively. So far 128395 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 834.70 on 31-May-2024 and a 52 week low of Rs. 284.05 on 06-Jun-2023.
Last one week high and low of the scrip stood at Rs. 834.70 and Rs. 705.00 respectively. The current market cap of the company is Rs. 63429.17 crore.
The promoters holding in the company stood at 60.49%, while Institutions and Non-Institutions held 27.45% and 12.05% respectively.
Jindal Stainless has acquired 100% stake of Evergreat International Investment Pte, Singapore (EIPL), thereby the company has acquired 54% equity stake in Chromeni Steels (CSPL). Consequently, EIPL has become a wholly owned subsidiary, and CSPL a step-down subsidiary of the Company with effect from June 04, 2024.
Earlier, the company had received the board’s approval to acquire a 54% equity stake in CSPL through acquisition of 100% equity stake of EIPL.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
