JSW Steel trades higher as its arm acquires stake in Ayena Innovation

JSW Steel is currently trading at Rs. 685.85, up by 5.85 points or 0.86% from its previous closing of Rs. 680.00 on the BSE.

jsw steel gains on reporting 22 rise in q2 consolidated net profit
JSW Steel

The scrip opened at Rs. 680.85 and has touched a high and low of Rs. 691.25 and Rs. 680.85 respectively. So far 28591 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 789.95 on 19-Apr-2022 and a 52 week low of Rs. 520.10 on 26-May-2022.

Last one week high and low of the scrip stood at Rs. 691.85 and Rs. 664.15 respectively. The current market cap of the company is Rs. 165362.05 crore.

The promoters holding in the company stood at 45.19%, while Institutions and Non-Institutions held 35.89% and 18.92% respectively.

JSW Steel’s wholly owned subsidiary — JSW Steel Coated Products (JSWSCPL) has completed the acquisition of 31% equity shareholding in Ayena Innovation (Ayena). Earlier, the company had entered into a shareholders agreement and a share subscription agreement with Ayena and its shareholders, inter alia, to acquire 31% equity shareholding in Ayena.

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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