JSW Steel shares open at 275.75 on Friday. The stocks fell by 3.11 percent ahead of the Union Budget. The stock closed at 1,527.00.
JSW Steel was recently in news for its bid to acquire debt-laden Asian Colour Coated Ispat Ltd for Rs 1,500 crore under the NCLT process. In July 2018 as well, JSW Steel and AION Investments Private II Ltd had acquired cash-strapped Monnet Ispat and Energy Ltd through the NCLT resolution process for Rs 2,850 crore.
Sajjan Jindal-led JSW Steel had reported a sharp fall of 48% in consolidated net profit at Rs 1,495 crore for the fourth quarter ended March due to increase in expenses.
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.
The BSE group ‘A’ stock of face value Re 1 has touched a 52-week high of Rs 427.30 on 21 September 2018 and a 52-week low of Rs 256.80 on 11 February 2019.
JSW Steel shares have fallen over 11% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
The promoter holding in the company stood at 42.66%, while Institutions and Non-Institutions held 21.96% and 34.74%, respectively.
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