JSW Steel promoter hikes stake marginally for Rs 25 cr

JSW Investments, a promoter group firm of JSW Steel, has raised stake in the steel maker by 0.10 per cent to 5.43 per cent for Rs 24.68 crore.

JSW Investments had 5.33 per cent stake or 1.29 crore shares in JSW Steel before the transactions, held on the National Stock Exchange in two tranches, the company said in a regulatory filing today.

JSW Investments had bought 1.5 lakh shares on January 10 for Rs 15.39 crore, and 91,000 shares on January 13 for Rs 9.29 crore.

Following these transactions, JSW Investments hold 5.43 per cent stake or 1.3 crore shares in the firm, as on January 14.

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 4.1 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 5 per cent stake in the company.

JSW Steel's shares were trading at Rs 994.3 apiece, down 1.21 per cent, during the afternoon trade on the BSE today.

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