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E-mail ID will not be published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

  • Sebi’s latest ban on 260 entities plugs a major loophole for stock manipulation

    Last week, the capital market regulator, Securities and Exchange Board of India (Sebi) banned 260 entities from dealing in the securities market for m

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

Arun Kumar Jain

Nuances in managing joint ventures

This is an age of collaboration. A seemingly simple device ...

Kuruvilla Pandikattu SJ

Finding the missing child of Christmas

Christmas is basically the feast of a helpless child. The ...

Shona Adhikari

Why Indian art auctions are here to stay

With Christie’s second India sale just over in Mumbai, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture