JSPL is currently trading at Rs. 358.85, up by 5.20 points or 1.47% from its previous closing of Rs. 353.65 on the BSE.
The scrip opened at Rs. 356.00 and has touched a high and low of Rs. 360.00 and Rs. 352.50 respectively. So far 63,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 625.50 on 13-Mar-2012 and a 52 week low of Rs. 321.10 on 12-Sep-2012.
Last one week high and low of the scrip stood at Rs. 379.70 and Rs. 351.20 respectively. The current market cap of the company is Rs. 33,546 crore.
The promoters holding in the company stood at 59.02% while Institutions and Non-Institutions held 28.77% and 12.21% respectively.
Jindal Steel and Power (JSPL) is likely to increase its stake in Australia’s Apollo Minerals to 11.70% by acquiring an additional 10 million shares of the firm for about Rs 2.20 crore. At present JSPL holds a 9.25% stake in the Australian company, which is primarily into iron ore mining. This transaction is expected to be complete this week and is not subject to regulatory approvals from any Australian or State Government agency.
Apollo Minerals has the Commonwealth Hill project in South Australia and Mount Oscar Project in the Pilbara region of Western Australia. It expects to use the proceeds, raised from JSPL, in the exploration and development of the Commonwealth Hill Iron Project and Titan Base-Precious Metals Project, both situated in the highly prospective Gawler Craton in South Australia, and working capital purposes.
