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JSW Steel jumps after its arm enters into agreement to acquire steel facilities at Piombino

22 Dec 2020 Evaluate

JSW Steel is currently trading at Rs. 358.00, up by 6.25 points or 1.78% from its previous closing of Rs. 351.75 on the BSE.

The scrip opened at Rs. 352.25 and has touched a high and low of Rs. 360.05 and Rs. 352.25 respectively. So far 22027 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 376.10 on 04-Dec-2020 and a 52 week low of Rs. 132.50 on 03-Apr-2020.

Last one week high and low of the scrip stood at Rs. 373.05 and Rs. 344.05 respectively. The current market cap of the company is Rs. 85025.73 crore.

The promoters holding in the company stood at 44.07%, while Institutions and Non-Institutions held 19.69% and 36.23% respectively.

JSW Steel’s subsidiary -- JSW Steel Italy S.r.l has entered into a Share Purchase Agreement (SPA) with Industrial Development Corporation (IDC), South Africa on December 21, 2020. IDC is owned by the Government of South Africa under the supervision of the Department of Trade Industry and Competition.

The SPA is for the acquisition of 30.73% share capital of GSI Lucchini S.p.A (GSI) for a cash consideration of Euro 1 million. The Transaction is subject to fulfilment of conditions precedent and other terms mentioned in the SPA.

Balance Share Capital of 69.67% of GSI is held by JSW Steel Italy S.r.l. The Manufacturing unit of GSI is located in Piombino, Tuscany Region, Italy. Acquisition is being made to strengthen presence in overseas grinding media markets particularly in Mining Industry.

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

1257.25 -5.90 (-0.47%)
23-Apr-2026 16:59 View Price Chart
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