JSW Steel promoter hikes stake in company

JSW Investments, a promoter group firm of JSW Steel, has raised its stake in the steel-maker to over five per cent by buying 4.85 lakh shares from the open markets.

JSW Investments had 4.92 per cent stake or 1.19 crore shares in JSW Steel before the transactions held at National Stock Exchange in the first week of January, the steel-maker said in a BSE filing.

JSW Investments bought 2.85 lakh shares on January 2 for Rs 28.99 crore and another two lakh shares on January 3 for Rs 19.90 crore.

Following these transactions, JSW Investments had 5.12 per cent stake or 1.24 crore shares in the firm, as on January 6.

The promoter group firm, which had 3.43 per cent stake in JSW Steel, as on September-end, has been acquiring shares from the open market.

By December-end, it had already raised its stake to 4.10 per cent. By the same period, JSW Steel's promoters held 37.31 per cent stake in the firm.

Jindal South West Holdings and Jindal Energy Investments are the two promoter group firms which have more than five per cent stake in the company.

JSW Steel's shares were trading at Rs 1,023 apiece, down 1.09 per cent, during afternoon trade on the BSE today.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • E-auction and eventual privatisation of coal industry are welcome steps

    The government’s decision to privatise the scam-ridden coal industry through a presidential ordinance will eventually end the monopoly of public sec

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Rajgopal Nidamboor

Synchronous balance is vital for one and all

Imagine that you are playing an electronic game, or actually ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture