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JSW Steel inches up on the buzz of talks to acquire London Mining

07 Oct 2014 Evaluate

JSW Steel is currently trading at Rs. 1176.25, up by 0.40 points or 0.03% from its previous closing of Rs. 1175.85 on the BSE.

The scrip opened at Rs. 1178.00 and has touched a high and low of Rs. 1198.00 and Rs. 1171.00 respectively. So far 17704 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1365.35 on 02-Sep-2014 and a 52 week low of Rs. 748.00 on 03-Oct-2013.

Last one week high and low of the scrip stood at Rs. 1245.55 and Rs. 1145.30 respectively. The current market cap of the company is Rs. 28547.37 crore.

The promoters holding in the company stood at 38.54% while Institutions and Non-Institutions held 24.60% and 36.86% respectively.

JSW Steel is reportedly in talks to acquire Sierra Leone-focused iron ore miner London Mining Plc. London Mining, which has been hit by a falling iron ore price and the Ebola crisis that has gripped the region, would come ‘cheap’ given its market value of $10 million. Moreover, the deal would help JSW to meet some of its demand for steelmaking ingredient iron ore.

Action against illegal mining in India has led to a sharp fall in domestic iron ore output, forcing JSW to import heavily. It plans to ship in 10 million tonnes of iron ore this fiscal year ending March 31.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. 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.

 

JSW Steel Share Price

1239.90 24.35 (2.00%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 212.05
JSW Steel 1239.90
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Jindal Stainless 787.90
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