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An update from JSW Steel Limited ( (IN:JSWSTEEL) ) is now available.
JSW Steel Limited has announced a strategic joint venture with JFE Steel Corporation of Japan to manage the steel business of Bhushan Power and Steel Limited (BPSL). This partnership aims to enhance BPSL’s growth potential by leveraging advanced technology and expanding its production capacity. The transaction involves a slump sale of BPSL’s steel business to JSW Sambalpur Steel Limited for Rs 24,483 crores, and JFE will acquire a 50% equity stake in JSW Kalinga for Rs 15,750 crores. This collaboration is expected to bolster JSW Steel’s growth strategy and strengthen its position in the high-end value-added steel products market. The transaction is subject to regulatory and shareholder approvals, including the Competition Commission of India.
More about JSW Steel Limited
JSW Steel Limited is a prominent player in the steel industry, focusing on the production and distribution of steel products. The company has a strategic market focus on expanding its steel-making capacity in India, with a target of reaching 50 million tonnes per annum (MTPA) by the fiscal year 2031.
Average Trading Volume: 54,163
Technical Sentiment Signal: Buy
Current Market Cap: 2856.2B INR
For a thorough assessment of JSWSTEEL stock, go to TipRanks’ Stock Analysis page.