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JSPL rises on plan to buy 53.63% stake in Gujarat NRE Coke’s Australian arm

Jindal Steel Ltd. | Steel/Sponge Iron/Pig Iron | Metals & Mining | BSE: 532286 | NSE: JINDALSTEL

17 Oct 2013 Evaluate

Jindal Steel & Power is currently trading at Rs 253.10, up by 2.00 points or 0.80% from its previous closing of Rs 251.10 on the BSE.

The scrip opened at Rs 251.90 and has touched a high and low of Rs 254.50 and Rs 249.00 respectively. So far 76880 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 473.90 on 20-Dec-2012 and a 52 week low of Rs 181.55 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 257.00 and Rs 242.80 respectively. The current market cap of the company is Rs 23435.52 crore.

The promoters holding in the company stood at 59.12% while Institutions and Non-Institutions held 27.57% and 13.31% respectively.

Jindal Steel and Power (JSPL) is all set to buy 53.63% stake in Gujarat NRE Coke’s loss-making Australian arm through a complex deal, which involves issue of convertible notes, placement of shares and option to acquire shares at a later stage.

Prior to the transaction, JSPL was the second largest shareholder in Gujarat NRE Coking Coal, after its promoters, with 31.49% stake. The Naveen Jindal-led company had launched a failed bid during February-March this year to acquire controlling stake in Gujarat NRE Coking Coal through an open offer. As on June 30, 2013, the promoters holding in the company stood at 52.22% while institutions and non-institutions held 18.55% and 29.23% stake in company, respectively.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

Jindal Steel Share Price

1269.50 45.65 (3.73%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Jindal Steel	1269.50
Lloyds Metals&Energy	1622.70
Jai Balaji Inds	72.59
Steel Exchange India	8.96
Rajputana Stainless	125.90
View more..

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JSPL rises on plan to buy 53.63% stake in Gujarat NRE Coke’s Australian arm

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