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JSW Steel Limited ( (IN:JSWSTEEL) ) just unveiled an update.
JSW Steel Limited has announced the acquisition of an additional economic interest in M Res NSW HCC Pty Ltd through its subsidiary, JSW Steel (Netherlands) B.V. This transaction, valued at $60 million, will increase JSW Steel’s economic interest in M Res NSW to 83.33% and its effective economic interest in Illawarra Metallurgical Coal to 30%. The move is expected to enhance JSW Steel’s offtake rights and strengthen its position in the metallurgical coal market, although it also increases the company’s future investment obligations.
More about JSW Steel Limited
JSW Steel Limited is a prominent player in the steel industry, primarily engaged in the manufacturing and distribution of steel products. The company focuses on expanding its market presence and enhancing its production capabilities through strategic acquisitions and investments.
Average Trading Volume: 59,397
Technical Sentiment Signal: Buy
Current Market Cap: 2691.1B INR
For detailed information about JSWSTEEL stock, go to TipRanks’ Stock Analysis page.