Monday , 6 December 2021
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JSW Steel rises as its arm begins Phase II upgrade of Plate Mill facility in Texas

JSW Steel rises as its arm begins Phase II upgrade of Plate Mill facility in Texas

JSW Steel is currently trading at Rs. 681.70, up by 12.80 points or 1.91% from its previous closing of Rs. 668.90 on the BSE.

The scrip opened at Rs. 678.00 and has touched a high and low of Rs. 683.80 and Rs. 672.45 respectively. So far 23554 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 776.50 on 06-Aug-2021 and a 52 week low of Rs. 304.00 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 699.65 and Rs. 653.00 respectively. The current market cap of the company is Rs. 161687.88 crore.

The promoters holding in the company stood at 44.09%, while Institutions and Non-Institutions held 20.74% and 35.17% respectively.

JSW Steel’s subsidiary — JSW Steel (USA) Inc. (JSW USA), a subsidiary of JSW Steel has commenced the second phase of the project to upgrade its Plate Mill facility located at Baytown in Texas, USA. The Phase II project begins and is expected to be completed in the second half of 2023. This is a part of JSW USA’s commitment to grow its steel manufacturing operations in Baytown. This project involves addition of a 4-Hi Finishing Mill, Pre-Leveler, Accelerated Cooling System/Direct Quench (ACC/DQ), Cooling Beds & new Roll Shop.

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.

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