JSW Steel moves up on acquiring remaining 50% stake in NSL Green Steel Recycling
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JSW Steel is currently trading at Rs. 782.75, up by 3.05 points or 0.39% from its previous closing of Rs. 779.70 on the BSE.
The scrip opened at Rs. 781.75 and has touched a high and low of Rs. 787.10 and Rs. 781.50 respectively. So far 17652 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 840.00 on 12-Sep-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. 788.50 and Rs. 772.55 respectively. The current market cap of the company is Rs. 191417.91 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 completed the acquisition by purchase of the entire 50% stake held by National Steel Holding (NSHL) in NSL Green Steel Recycling (NSL). Consequent to completion of this acquisition and other closing conditions as mentioned in the SPA, the Company’s shareholding in NSL has increased from 50% (pre-acquisition) to 100% (post-acquisition) and NSL has become a Wholly Owned Subsidiary of the Company effective from September 27, 2023.
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.
