JSW Steel Ltd.

JSW Steel is currently trading at Rs. 728.40, up by 3.35 points or 0.46% from its previous closing of Rs. 725.05 on the BSE.

The scrip opened at Rs. 728.00 and has touched a high and low of Rs. 734.00 and Rs. 721.50 respectively. So far 73025 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 893.75 on 29-Jan-2013 and a 52 week low of Rs. 566.00 on 24-May-2012.

Last one week high and low of the scrip stood at Rs. 749.60 and Rs. 693.15 respectively. The current market cap of the company is Rs. 16215.04 crore.

The promoters holding in the company stood at 38.05% while Institutions and Non-Institutions held 24.67% and 37.28% respectively.

JSW Steel is scouting to secure mining leases, including bidding for new mines in Karnataka after the judgment of lifting the mining ban in the state by the Supreme Court. The largest steel maker in private sector does not have any captive iron ore mines though it has 14-million tonnes production capacity, which includes a 10-MT capacity in Karnataka’s Vijayanagar.

Earlier, the company was planning to expand its 10 MT Vijayanagar capacity in Karnataka by a further 2 MT for about Rs 2,695 crore. But it has put on hold this expansion because of continuous shortages of iron ore in the region. The entity had plans to fund the expansion by taking a debt of Rs 1,750 crore and meeting rest of the investments, about Rs 945 crore, from its cash reserves.